If the Overall Price Level Rises from 100 to 150

question 25

Multiple Choice

If the overall price level rises from 100 to 150, the aggregate

• A) quantity demanded could increase from $5 trillion to $6 trillion.
• B) quantity demanded could decrease from $5 trillion to $4 trillion.
• C) demand curve could shift to the right.
• D) demand curve could shift to the left.

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Definitions:

Likert

Relates to a psychometric scale commonly involved in research that employs questionnaire-based research methods, used for measuring attitudes or opinions.

Semantic Differential

A scale used to measure attitudes that consists of pairs of adjectives opposite in meaning.

Ratio-Level Measurement

A quantitative measurement that includes a true zero point, allowing for meaningful comparisons of magnitude and calculations of ratios.

Zero

A numerical value representing the absence of any quantity or magnitude.