Which of the Following Statements Is Correct

question 241

Multiple Choice

Which of the following statements is correct?

• A)The price level does not effect the level of real GDP demanded.
• B)The lower the price level, the greater the quantity of real GDP demanded
• C)The lower the price level, the more the aggregate demand curve shifts rightward.
• D)The lower the price level, the more the aggregate demand curve shifts leftward.
• E)The higher the price level, the more the aggregate demand curve shifts rightward.

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Definitions:

Bank Statement

A monthly report from a bank that shows deposits recorded, checks cleared, other debits and credits, and a running bank balance. This same information is available on a daily basis from the bank’s online banking site.

Credit Terms

The conditions under which credit is extended by a seller to a buyer, including payment deadline, discount for early payment, and service charge for late payment.

Annual Basis

Annual basis refers to any financial calculation or performance measurement taken over or normalized for a single year.

Outstanding Checks

Checks that have been issued and recorded in the issuing party's records but have not yet been cashed or cleared by the bank.