The curve that shows the quantity of goods and services that firms produce and sell
a. as it relates to the quantity of goods and services that buyers want to buy is called the aggregate-demand curve.
b. as it relates to the quantity of goods and services that buyers want to buy is called the aggregate-supply curve.
c. as it relates to the overall price level is called the aggregate-demand curve.
d. as it relates to the overall price level is called the aggregate-supply curve.
d
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Imperfect asset substitutability assumes
A) the returns on foreign and domestic currency bonds are identical. B) the returns on foreign and domestic currency are unrelated. C) the risks of holding foreign and domestic currency are identical. D) the risks of holding foreign and domestic currency are unrelated to returns. E) the returns on foreign and domestic currency differ and are influenced by risk.
The long boom occurred in the
A) 1920s and 1930s. B) 1940s and 1950s. C) 1960s and 1970s. D) 1980s and 1990s.
If businesses in general decide that they have overbuilt and so now have too much capital, their response to this would initially shift
a. aggregate demand right. b. aggregate demand left. c. aggregate supply right. d. aggregate supply left.
Refer to Scenario 16.2 below to answer the question(s) that follow. SCENARIO 16.2: The marginal benefit for a particular food is described by MB = 60 - q, where q refers to the quantity of the food. The marginal cost of producing the food is described by MC = 3q. There is a negative externality associated with food production and the marginal social cost of food production is MSC = 5q.Refer to Scenario 16.2. The efficient output level is ________ and the efficient price is ________.
A. 10 units of food; $50 B. 20 units of food; $40 C. 0 units of food; $0 D. 10 units of food; $20