Which of the following is a correct explanation for why the aggregate demand curve slopes downward?
a. as the price level increasesincreases, consumers substitute lessless expensive goods for moremore expensive choices.
b. as the price level increasesincreases, the labor force decreasesdecreases.
c. as the price level increasesincreases, the real value of cash balances decreasesdecreases, and total expenditures fallfall.
d. as the price level increasesincreases, exports become lessless expensive overseas and imports become relatively moremore expensive domestically, and thus net exports fallfall.
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Which of the following is a correct explanation for why the aggregate demand curve slopes downward?...
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