If the Aggregate Supply Curve Is Positively Sloped, an Increase

question 107

True/False

If the aggregate supply curve is positively sloped, an increase in the money supply will result in an increase in both equilibrium national income and the equilibrium price level.

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Definitions:

Ultimate Attribution Error

A bias in which positive behaviors by out-group members are attributed to situational factors, while negative behaviors are attributed to their character.

Group-Enhancing Bias

A cognitive bias that leads people to view their own group more favorably compared to others.

Group Production Blocking

A process during collaborative work where the flow of ideas or productivity is impeded because only one group member can contribute at a time.

False Consensus Effect

A cognitive bias whereby people tend to overestimate the extent to which their opinions, beliefs, preferences, values, and habits are normal and typical of those of others.