The aggregate demand curve illustrates the relationship between
A) the aggregate expenditure for goods and services, and the real interest rate.
B) the aggregate expenditure for goods and services, and the level of current output.
C) the level of current output and the real interest rate.
D) the aggregate expenditure for goods and services, and the price level.
D
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Describe two useful purposes served by speculators in derivatives markets
What will be an ideal response?
Keynesian economists argue that the velocity of money is unstable and has unpredictable variations
a. True b. False Indicate whether the statement is true or false
What are the two parts of the economic problem? a. economics explains many things, but only things that are related directly to money
b. natural resources are scarce but human-made resources are not. c. scarcity forces us to choose and choices are costly because we must give up other opportunities that we value. d. we have unlimited wants and unlimited resources.
Which of the following is a correct statement?
A. Economic concepts or laws that are valid during depression are necessarily valid during prosperity. B. Although they are generalizations, economic laws are useful because they allow us to predict and therefore influence or adjust to events. C. Economics is as scientific as are physics and chemistry because economic laws are as quantitatively precise as the laws of physics or chemistry. D. Because economics is concerned with questions of "ought," it is a branch of applied ethics and not scientific.