The basic aggregate demand and aggregate supply curve model helps explain ________ fluctuations in real GDP and the price level
A) short-term
B) long-term
C) both short-term and long-term
D) unrelated
Answer: A
You might also like to view...
The federal personal income tax is designed as a
a. progressive tax b. regressive tax c. proportional tax d. poll tax e. payroll tax
Which of the following is NOT a possible solution to the problem of pollution?
A) subsidizing the costs of production of activities that generate pollution B) converting a resource that is communally owned into a privately owned resource C) regulating the quantity of pollution that can be generated D) imposing a pollution tax on producers
________ is the average cost of producing each unit of output.
A. Average variable cost B. Marginal cost C. Average total cost D. Average fixed cost
When individuals make decisions with some desired outcome in mind, they are engaging in:
a. purposeful behavior b. economically efficient behavior c. chaotic behavior d. random behavior