An Increase in the Price Level Will Shift the Aggregate

question 21

Multiple Choice

An increase in the price level will shift the aggregate demand curve:

• A)rightward.
• B)leftward.
• C)both.
• D)none of the above.

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Definitions:

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be enjoyed by all members of society without reducing its availability to others.

Majority Vote

A decision rule that selects alternatives which have a majority, that is, more than half the votes.

Ranked Preferences

A method of ordering alternatives based on their level of desirability or utility to an individual or group.