Law of demand is not applicable in case of:I. Giffin goods II. Article

1.	Law of demand is not applicable in case of:I. Giffin goods II. Articles of distinction III. Inferior good IV. Normal goods
Answer» Answer: 4. Determinants of aggregate demand The following graph shows a DECREASE in aggregate demand in a hypothetical country. Specifically, aggregate demand shifts to the left from AD1 to AD2 , causing the quantity of output demanded to fall at all price levels. For example, at a price level of 140, output is now $200 billion, where previously it was $300 billion. The following table lists SEVERAL determinants of aggregate demand. Complete the table by indicating the change needed in each determinant to decrease aggregate demand. Determinant Change Needed to Decrease Aggregate Demand Consumer CONFIDENCE ________________ Government PURCHASES ________________ Interest Rates Increase ________________ Incomes in Other Countries _______________

Law of demand is not applicable in case of:I. Giffin goods II. Articles of distinction III. Inferior good IV. Normal goods

Answer»

Answer:

4. Determinants of aggregate demand

The following graph shows a DECREASE in aggregate demand in a hypothetical country. Specifically, aggregate demand shifts to the left from AD1

to AD2

, causing the quantity of output demanded to fall at all price levels. For example, at a price level of 140, output is now $200 billion, where previously it was $300 billion.

The following table lists SEVERAL determinants of aggregate demand. Complete the table by indicating the change needed in each determinant to decrease aggregate demand.

Determinant

Change Needed to Decrease Aggregate Demand

Consumer CONFIDENCE ________________

Government PURCHASES ________________

Interest Rates Increase ________________

Incomes in Other Countries _______________

Discussion

No Comment Found

Related InterviewSolutions

DIOshowsdalaThe followingcarsnumberacarutimanufactured byfaedarzeashelp ofTata kotona2016-17Reprecentpie Ciagamseduchincass (2)shout naps on cos whomaenti15, 75, oroTalaluctos7,25,oooHyundai5, 50,000
Write names of some important index number.
What do you mean by explicit cost? Are the following included in it?1) Payment of wages to employees of the firm.2) Wages for entrepreneurs own labour.3) Depreciation Cost.4) Rent of entrepreneurs own building.5) Payment of electricity bill.Don't Spam❌
What are the techniques for measuring correction ?
What is data represented in tabular presentation?what are parts of a table?
If we increase the retention rate, than the price of the share will increase or decrease?
Oston 14 of 30In the assembly line balancing, cycle time (the ratio of available production time to scheduled production) is the
Why does each country need a representative on the World Stage? Why do countries need to collaborate and help each other? What do you think are the benefits of doing so?
America is called the "Melting Pot". Why do you think we have earned that nickname? What are the benefits of diversity within our country?
. For the circuit shown in Figure below, calculate the following:(Marks 12)(a) Total resistance across the source(b) Total current from the source(c) Current through 910 Ωthe resistor (d) Voltage from A to point B