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.
Elitism is the belief or attitude that individuals who form an elite â a select group of people with a certain ancestry, intrinsic quality, high intellect, wealth, special skills, or experience â are more likely to be constructive to society as a whole, and therefore deserve influence or authority greater than that of others.