Which of the following is NOT a reason that the aggregate demand curve slopes downward()
A. The wealth effect causes consumers to spend less when the price level rises.
B. Higher interest rates encourage consumers to delay major purchases.
C. Because entitlements are adjusted for inflation, a rising price level forces government spending to increase.
参考答案:C
解析:
The aggregate demand curve plots real GDP against the price level. Rising entitlement payments that result from an increasing price level affect nominal GDP, but not real GDP. The other choices describe reasons why the consumption and investment components of real GDP decrease when the price level increases.