An Increase in AD Will Primarily Increase the Price Level

question 51

True/False

An increase in AD will primarily increase the price level when the economy is on the steep part of the AS curve.

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Definitions:

Dominant Strategy

A strategy in a game theory scenario where one option is best regardless of what an opponent decides to do.

Store Expansion

The process by which a retail business opens additional locations or increases the size of existing ones to reach more customers or offer more products/services.

Dominant Strategy

In game theory, a strategy that is the best choice for a player, no matter what the other players do.

Drug Dealers

Individuals or entities involved in the illegal trade of controlled substances.