In deriving the aggregate demand curve from the aggregate expenditures model, we note that Multiple Choice a change in the price level will have no impact on the aggregate expenditures schedule. an increase (decrease) in the price level shifts the aggregate expenditures schedule downward (upward). the real-balances effect is irrelevant to both models. an increase (decrease) in the price level shifts the aggregate expenditures schedule upward (downward).
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In deriving the aggregate demand curve from the aggregate expenditures model, we note that Multiple...
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