Many Economists Maintain That

question 96

Multiple Choice

Many economists maintain that

• A)the aggregate supply curve is nearly horizontal at low levels of real GDP.
• B)the aggregate supply curve is nearly vertical at very high levels of real GDP.
• C)any change in aggregate demand will have most of its effect on output when economic activity is low but on prices when the economy is near full employment.
• D)All of these responses are correct.

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Definitions:

Gills

Respiratory organs found in many aquatic organisms, allowing for the exchange of oxygen and carbon dioxide with water.

Statocysts

Statocysts are sensory organs found in some animals, used for detecting gravity and orientation.

Biological Success

The ability of an organism to survive, reproduce, and pass its genes to the next generation.

Insects

Small arthropods belonging to the class Insecta, which have a chitinous exoskeleton, a three-part body (head, thorax, abdomen), three pairs of jointed legs, compound eyes, and one pair of antennae.