If the Quantity of Real GDP Demanded Is Greater Than

question 255

Multiple Choice

If the quantity of real GDP demanded is greater than the quantity of real GDP supplied,then

• A)the economy must be producing at potential GDP.
• B)the price level falls and firms decrease production.
• C)the price level rises and firms increase production.
• D)the price level falls to restore the macroeconomic equilibrium.
• E)aggregate demand changes to restore equilibrium.

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A device designed to protect the wearer from inhaling harmful dusts, fumes, vapors, or gases.

Joint Tenant

An individual co-holder of a property title under the right of survivorship, meaning the property passes to the surviving holders upon one's death.

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A contract with an insurer that pays a designated beneficiary a sum of money upon the death of the insured person.

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A savings certificate with a fixed maturity date and specified fixed interest rate, issued by banks to depositors.