An Increase in Aggregate Demand If Aggregate Supply Is Totally

question 13

Multiple Choice

An increase in aggregate demand if aggregate supply is totally price elastic will:

• A) Increase price but not output
• B) Increase output but not price
• C) Increase output and price
• D) Decrease output and price

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Definitions:

Bank Reconciliation

The process of matching and comparing figures from accounting records against those shown on a bank statement to ensure consistency and accuracy in financial records.

Company's Records

Documentation and files maintained by a company, detailing its financial transactions, legal obligations, and operational activities.

Cash Short

A situation where the amount of cash in a register or petty cash drawer is less than what the records indicate should be present.

Over

Typically refers to situations where actual costs or quantities exceed estimates or planned values in a budget, project, or manufacturing.