The components of aggregate demand (GDP) is equal to:

a.

Y = C - X -M + I + G

b.

Y = C + I + TR + G +X - M

c.

Y = C + I + G +X - M

d.

Y = G + I + X + N + T - X

The Horizontal, Vertical and Intermediate ranges apply to the

a.the slope of the individual market demand curve

b.the slope of the aggregate demand curve

c.shape of the individual market supply curve

d.the shape of the aggregate supply curve

In the long run, an increase in aggregate demand results in real GDP to ________ and the price level to ___________.

a.Decrease ; increase

b.Unchanged ; increase

c.Unchanged ; decrease

d.Increase ; decrease