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produced by the govermen β. prouud-taproduced byn given inta try D. of labour supplied by all household demand for goods and services in an ey is for 8. The total A. aggregate demand B. national demand C. groas national product D. economy-wide demand 9. Deflation is A. an increase in the overall level of B. an increase in the overall price level. C. a decrease in the overall level of economic activity D. a decreaue in the overall price level. 10. A recession is A. a period of declining prices. B. a period during which aggregate output declines. C. a period of declining unemployment. D. a period of falling trade volumes. Aggregate demand curve is downward sloping due to the: A. Interest rate effect B. Wealth effect C. International purchasing power effect D. All of tbe given option 11. 12. A primary implication of Keynesian economics is: A. The best government is the least government s. Fiecibic ages and prices ensure full employment C s,tf - :.:inn İs the best way to eliminate unemployr ablity is best corrected through the inte iri y , İNF EXAMINATION MATERIA!

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Answer #1

8. A is correct

Aggregate demand is the sum total of all goods and services demanded in the economy.

9. D is correct

Deflation is a decrease in the price level of overall goods.

10. B is correct

Recession is a period of falling aggregate output.

11. D is correct

Aggregate demand is downward sloping due to the three reasons- wealth effect, interest rate effect and international purchasing power effect.

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