Question

For a given price level, an upward shift of the expenditures schedule corresponds to an?

Answer 1

For a given price level, an upward shift of the expenditures schedule corresponds to an outward shift of the aggregate demand curve.

Explain the Demand curve?

• The connection between the cost of an item or service and the quantity demanded over a specific time period is represented graphically by the demand curve.
• The price and quantity requested are often represented with the price on the left vertical axis and the horizontal axis, respectively.
• The law of demand states that when the price of a particular good rises, the quantity required falls, all other things being equal. This is shown by the demand curve moving downward from the left to the right.
• The price is implied to be the independent variable in this formulation, and the quantity to be the dependent variable. Economics is an exception to the general norm that the independent variable appears on the horizontal or x-axis.

To learn more about the Demand curve, refer to the following link:

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