The AD curve slopes downward because: a. per-unit production costs fall as real GDP increases. b. the
Question:
The AD curve slopes downward because:
a. per-unit production costs fall as real GDP increases.
b. the income and substitution effects are at work.
c. changes in the determinants of AD alter the amounts of real GDP demanded at each price level.
d. decreases in the price level give rise to real-balances effects, interest-rate effects, and foreign purchases effects that increase the amount of real GDP demanded.
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Related Book For 
Economics Principles Problems And Policies
ISBN: 9780073511443
19th Edition
Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn
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