In Deriving the Aggregate Demand Curve a ________ Price Level

question 51

Multiple Choice

In deriving the aggregate demand curve a ________ price level ________ the money supply in real terms,raises interest rates,and ________ the equilibrium level of aggregate output.

• A)higher; reduces; raises
• B)higher; reduces; lowers
• C)lower; increases; raises
• D)lower; increases; lowers

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Definitions:

J.A.Hobson

An English economist and social scientist best known for his critique of imperialism and his theory on the economic roots of imperialism.

Industrial Capitalism

An economic system characterized by private or corporate ownership of capital goods, production for profit, and the predominance of industrial manufacturing and finance.

Advances in Technology

Refers to the progressive developments and innovations in various fields such as science, engineering, and information technology that enhance capabilities and efficiency.

European Imperialism

The policy of extending a country's power and influence through colonization, use of military force, or other means, particularly by European nations from the 16th to the 20th century.