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July 2, 2020 11:48 pm 30 pts
15P/239/31 S, The classical Aggregate Demand Curve drawn with respect to price is (1) Linear (2) Vertical (3) Downward sloping Rectángular Hyperbola (4 Uncertain (11 (2) 347 (3) (4) AeT 54. As per the permanent income hypothesis Cp-k(i,w,n} Yp where i, w and u denote: (1 Income, wealth and utility (2) Rate of interest, wealth and taste & preferences (3) Ratc of interest, Ratio of Non human wealth to income and taste & preference 4) None of the above RTT 3T ReTYT 5 TTT Cp-ki,w,n) Yp 6T p i, w u 54RT (1) 3T4, ioT ge 39fTT (2) (3) (4)
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53. the correct option is 3 under the classical assumptions the aggregate demand curve slopes downward, as when the price level reduces lower and lower the curve tend to become m...