In a Macro Model with a Constant Price Level,an Increase

question 53

Multiple Choice

In a macro model with a constant price level,an increase in autonomous desired consumption will cause the AE curve to shift

• A)downward and the AD curve to shift to the left.
• B)downward and the AD curve to shift to the right.
• C)upward and the AD curve to shift to the left.
• D)upward and the AD curve to shift to the right.
• E)upward and a movement to the right along the AD curve.

Understand the reasons why minors might have restrictions on their ability to disaffirm contracts and which types of contracts they cannot disaffirm.

Comprehend the legal implications of capacity and consent in contract law, including how it affects minors, the mentally ill, and intoxicated individuals.

Distinguish between contracts that are void, voidable, and enforceable based on legality and public policy.

Recognize the principles behind the liability of parents for their children's contracts and distinguish between contracts for necessaries and non-necessaries.

---

Definitions:

Ice Cream

A frozen dessert made from dairy products, such as milk and cream, combined with flavorings and sweeteners, often eaten as a snack or dessert.

Perfectly Competitive

A market structure where many firms offer homogenous products, entry and exit are easy, and no single buyer or seller can influence the market price.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price at a specific time.

Good Y

A hypothetical or symbolic representation of a product or service in economic analyses to examine effects on demand, supply, and market dynamics.