8. Beginning at a full employment equilibrium, a decrease in
aggregate demand in the short run will tend to cause a:
B. Lower price level and a lower employment level.
Explanation: The aggregate demand will shift to the left. Leading
to lower price level and output level.
9. Which of the following results if the aggregate quantity
supplied exceeds the aggregate quantity demanded?
D. A surplus causes the price level to fall.
Explanation: There exists situation of surplus when quantity
supplied is greater than quantity demanded.