-In the Above Figure the Economy Is Initially at Point

question 231

Multiple Choice

-In the above figure the economy is initially at point A on the aggregate expenditure curve AE?. Suppose investment decreases. As a result

• A) the AE curve shifts upward to a curve such as AE?.
• B) the AE curve shifts downward to a curve such as AE?.
• C) there is a movement along AE? to a point such as B.
• D) there is a movement along AE? to a point such as C.

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Definitions:

Moral Evil

Wrong or harm arising from intentional actions or character flaws of moral agents, contrasted with evil resulting from natural processes or accidents.

Free Will

Among philosophers, a somewhat antiquated expression (as in “he did it of his own free will”) meaning that a person is capable of making decisions that are not determined by antecedent conditions. Of course, there may be antecedent considerations, such as what a person wants or what a person believes, but free will means that such considerations never determine a person’s decision. At most they “enter into the decision.”

Least of the Evils

A principle involved in decision making that opts for the less harmful or least undesirable option among several bad choices.

Process Philosophy

A philosophical approach that emphasizes becoming, change, and the dynamic nature of reality over static being or existence.