The aggregate demand curve shows the ________ relationship between the price level and ________
A) positive; the quantity of real GDP demanded
B) negative; aggregate labor demanded
C) positive; aggregate labor demand
D) negative; the quantity of real GDP demanded
D
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An increase in the price level means that
A) long-run aggregate supply has increased. B) monetary policy has been contractionary. C) the value of the dollar has increased. D) the purchasing power of money has fallen.
Farmers can insure themselves against adverse price swings through the __________ market
A) bond B) stock C) futures D) food E) none of the above
Foreign currency assets held by a government for the purpose of purchasing domestic currency in the foreign exchange market are called:
A. fixed-exchange-rate deposits. B. balance-of-payment currency. C. purchasing-power-parity funds. D. international reserves.
The Sweet Success Bakery sells 800 cakes at a price of $20 per cake. Its total economic costs for producing 800 cakes are $4,800. The Sweet Success Bakery's economic profits are
A. $4,800. B. $11,200. C. $16,000. D. indeterminate from this information.