The labels for the axes of the aggregate demand graph should be

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One hour 1. The labels for the axes of the aggregate demand graph should be: A. Real domestic output on the horizontal axis and the price level on the vertical axis B. Real domestic output on the vertical axis and the price level on the horizontal axis C. Quantity of a product on the vertical axis and the price of a product on the horizontal axis D. Price of a product on the vertical axis and quantity of a product on the horizontal axis 2. The aggregate demand curve or schedule shows the relationship between the total demand for output and the: A. Income level B. Price level C. Interest rate D. Real GDP 3. An increase in personal income tax rates will cause a(n): A. Decrease in the quantity of real output demanded (or movement up along AD) B. Increase in the quantity of real output demanded (or movement down along AD) C. Increase (or shift right) in aggregate demand D. Decrease (or shift left) in aggregate demand 4. An aggregate supply curve represents the relationship between the: A. Real domestic output bought and the real domestic output sold B. Price level that producers are willing to accept and the price level buyers are willing to pay C. Price level and the buying of real domestic output D. Price level and the production of real domestic output

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