What Does a Fall in the Economy's Overall Level of Prices

question 167

Multiple Choice

What does a fall in the economy's overall level of prices tend to do?

• A) It tends to raise both the quantity demanded and supplied of goods and services.
• B) It tends to raise the quantity demanded of goods and services, but lower the quantity supplied.
• C) It tends to lower the quantity demanded of goods and services, but raise the quantity supplied.
• D) It tends to lower both the quantity demanded and the quantity supplied of goods and services.

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Definitions:

Heredity

The passing on of physical or mental characteristics genetically from one generation to another.

Genetic Traits

Attributes, characteristics, or conditions that are passed from parents to offspring through genes.

Single Gene

Refers to a trait or condition that is determined by the instructions found in one gene, illustrating a simple form of genetic inheritance.

Heritable

Traits or characteristics that can be passed from one generation to the next through genetic inheritance.