The total of all planned production for the economy is

A) aggregate supply.
B) aggregate demand.
C) endowments.
D) real-balance effect.


A

Economics

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Refer to Table 9-3. Select the statement that accurately interprets the data in the table

A) Tina has a comparative advantage in making candles. B) Bryce has a comparative advantage in making candles and making soap. C) Bryce has a comparative advantage in making candles. D) Bryce has an absolute advantage in making soap.

Economics

Under a constant growth rate of money rule of 5 percent in an economy in which Real GDP grows at an average rate of 5 percent and velocity is constant, the inflation rate is

A) 5 percent. B) -5 percent. C) 25 percent. D) -25 percent. E) constant at zero.

Economics

Refer to the provided graph of a competitive market. If the output level is Q1, then there are efficiency losses indicated by the area

What will be an ideal response?

Economics

How much does it cost to tax a dollar of revenue away from the private sector and transfer it to the government to finance a government program?

a. one dollar b. less than one dollar because the administration of and compliance with the tax laws creates jobs for people c. more than a dollar because collection of the taxes requires resources that would otherwise be available for private sector production d. more than a dollar because of the excess burden resulting from the elimination of productive exchanges by the taxes e. Both c and d are correct.

Economics