Which of the following is a FALSE statement? The only variable not held constant along the aggregate demand curve is the price level The only variable that changes along an aggregate demand curve is the price level- all other influences are held constant The inter temporal and internatiohal substitution effect, and the wealth effect contribute to a positively sloped aggregate supply curve The inter temporal and international substitution effects, and the wealth effect contribute to a negatively sloped aggregate demand curve Oit the price level rises, then the wealth effect leads to a decrease in real wealth, a decrease in current consumption expenditure and an increase in savings

Which of the following is a FALSE statement? The only variable not held constant along the aggregate demand curve is the price level The only variable that changes along an aggregate demand curve is the price level- all other influences are held constant The inter temporal and internatiohal substitution effect, and the wealth effect contribute to a positively sloped aggregate supply curve The inter temporal and international substitution effects, and the wealth effect contribute to a negatively sloped aggregate demand curve Oit the price level rises, then the wealth effect leads to a decrease in real wealth, a decrease in current consumption expenditure and an increase in savings

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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