The relationship between the level of prices and the total demand for all goods and services is known as:
A. aggregate supply.
B. market supply.
C. aggregate demand.
D. market demand.
Answer: C
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Which of the following is not a problem with poorly defined property rights?
a. Insufficient incentive exists to produce resources that cannot be protected. b. Resources will tend to be underutilized. c. Individuals may be able to use resources without paying for them. d. Little incentive to conserve on the use of poorly defined resources.
A firm in a monopolistically competitive market determines the profit-maximizing output at which
A) MR = P. B) MR = ATC. C) MR = AVC. D) MR = MC.
In a typical 10-year period, about one in four families falls below the poverty line in at least one year. What percentage of families are poor for eight or more years?
Following the financial crisis in 2008, the Federal government passed the ________, to prevent future financial crises by making major changes to the US financial system.
A. FDIC Improvement Act. B. Troubled Asset Relief Program. C. Dodd-Frank Act. D. Glass-Steagall Act.