From 2001 to 2005 There Was a Dramatic Rise in the Price

question 61

Multiple Choice

From 2001 to 2005 there was a dramatic rise in the price of houses.If this rise made people feel wealthier,then it would have shifted

• A)aggregate demand right.
• B)aggregate demand left.
• C)aggregate supply right.
• D)aggregate supply left.

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Definitions:

Worksheet

A paper or electronic document used to organize and simplify accounting information before the preparation of financial statements.

Owner's Drawings

Withdrawals of business assets by the owner for personal use.

Income Summary

An account in which revenues and expenses are summarized, showing the net income or loss for a specific period before closing entries are made.

Net Income

Net income is the total revenue minus total expenses of a business, showing the company's profit during a specific period.