-In the Top Panel of the Diagram Above,the Fall in the Price

question 7

Multiple Choice

-In the top panel of the diagram above,the fall in the price level from P = 12 to P = 10 shifts the planned aggregate expenditure line and ___________ short-run equilibrium output from ___________ to ___________.

• A) increases;450;500
• B) decreases;500;450
• C) decreases;500;12
• D) increases;10;12
• E) decreases;12;10

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Definitions:

Roman Civil Law

A legal system originating from Ancient Rome, featuring codified laws and emphasizing legal principles over judicial decisions, foundational to many modern legal systems.

Law of Equity

A body of law that supplements formal statutes with principles of fairness, justice, and conscience in legal judgments and remedies.

Law Merchant

Rules developed by the merchant guilds and the source of common law relating to negotiable instruments such as cheques and promissory notes.

War-Crimes Trials

Legal proceedings conducted to prosecute individuals accused of violating laws and customs of war.