The second reason for the downward slope of the aggregate demand curve is Keynes's interest-rate effect. Recall that the quantity of money demanded is dependent upon the price level. That is, a high price level means that it takes a relatively large amount of currency to make purchases.
Elision. Elision is a process where one or more phonemes are âdroppedâ, usually in order to simplify the pronunciation. It may occur for both vowels and consonants, although it is much more common for consonants.
Definition of 'elicit'. elicit (ÉªlÉªsÉªt ) If you elicit a response or a reaction, you do or say something which makes other people respond or react. Mr Norris said he was hopeful that his request would elicit a positive response.