The Aggregate Demand Curve Slopes Downward Indicating That

question 145

Multiple Choice

The aggregate demand curve slopes downward indicating that

• A)an increase in the general price level will reduce the aggregate quantity of goods and services demanded.
• B)an increase in the general price level will increase the aggregate quantity of goods and services demanded.
• C)a change in the interest rate will alter the aggregate quantity of goods and services demanded.
• D)consumers substitute between domestic-made and foreign-made goods as their relative prices change.

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Definitions:

Random Samples

Random samples are selections made in such a way that each member of a population has an equal chance of being included.

Psychological Research

The scientific study of the human mind, behaviors, and processes.

Response Rate

The percentage of people selected for a sample who actually completed a survey.

Confidence Interval

A range of values derived from sample statistics that is likely to contain the value of an unknown population parameter.