The Quantity of Real GDP Demanded Equals $12

question 134

Multiple Choice

The quantity of real GDP demanded equals $12.4 trillion when the price level is 95.If the price level falls to 90,the quantity of real GDP demanded equals

• A) less than $12.4 trillion.
• B) $12.4 trillion.
• C) more than $12.4 trillion.
• D) more information is needed to determine if the quantity of real GDP demanded increases, decreases, or does not change.

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Definitions:

Assumptive Worlds

The view that people live in social worlds based on certain beliefs (assumptions) about reality

Accessibility

How easily something comes to mind

Downward Comparisons

A psychological strategy where individuals compare themselves to others who are worse off in order to feel better about their own situation.

Presumptive Reasoning

A form of logical thinking that makes assumptions based on general rules or past experiences, leading to conclusions that are taken as likely true.