a.
To explain:
The impact of change in Consumer confidence index and express whether it encourages
Introduction: Consumer confidence index (CCI) is designed by the Conference Board in 1967 to ascertain the consumer willingness to buy goods and services in different economic situations. This index comprises many questions which can help to understand the economic condition from consumer’s point of view.
b.
To explain:
The Consumer confidence index (CCI) and its impact on aggregate demand and
Introduction: Aggregate demand is the total demand of goods and services for a given price level in an economy. AD curve shows the inverse relationship between price level and
Aggregate supply is the total product or output available in an economy at a particular price level. Aggregate supply curve slopes upward and it has positive relationship between the price level and aggregate supply.
c.
To explain:
The response of government for the time the economy is below potential output and the times it is above potential output.
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