What determines the total value of aggregate demand for U.S. real GDP?
A. the Congressional Budget Office
B. the Federal Reserve Board
C. Wall Street
D. the spending decisions of consumers, firms, and governments
Answer: D
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Refer to the figure above. What is the producer surplus in the market?
A) $20 B) $40 C) $60 D) $80
The figure above shows the demand for fruit snacks. Which movement reflects an increase in income if fruit snacks are an inferior good?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
In the figure above, suppose the original budget line is BD. A rise in the price of a compact disc will
A) rotate the budget line to AD. B) rotate the budget line to CD. C) not move the budget line. D) result in a parallel leftward shift of the budget line.
In the short run:
A. the firm is free to change the amount of capital it uses. B. all inputs are variable. C. there are no variable inputs. D. at least one input is fixed.