Asked by
Maria Azmat
on Nov 16, 2024
Verified
An excess supply of money is eliminated by a falling price level
Excess Supply
A market situation where the quantity of a good or service offered for sale by producers exceeds the quantity that consumers are willing to buy, often leading to a fall in prices.
Price Level
An encompassing average of prices for goods and services produced at present in the economy.
- Acquire an understanding of how price levels are influenced by changes in the money supply and demand.
Verified Answer
JS
Learning Objectives
- Acquire an understanding of how price levels are influenced by changes in the money supply and demand.