-As a Result of the Shift in Aggregate Demand,equilibrium Real

question 42

Multiple Choice

-As a result of the shift in aggregate demand,equilibrium real output changes from:

• A)ce to cf
• B)cf to ab
• C)cd to ab
• D)cd to cf
• E)ce to cd

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Definitions:

Market

An economic system or environment where buyers and sellers engage in exchanges of goods, services, or information.

Total Surplus

The sum of consumer surplus and producer surplus, representing the total net benefits to society from a market transaction.

Private Value

The individual valuation of a good or service to a particular consumer or producer, not taking into account external effects or social welfare.

External Benefits

Positive effects of a product or service on individuals or entities who are not directly involved in the transaction or production of the product or service.