Aggregate demand is the total demand for intermediate goods and services in an entire economy.
Answer the following statement true (T) or false (F)
False
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Which of the following will tend to make oil extraction more economical?
A) rising oil prices B) additional oil exploration C) conservation measures D) development of oil substitutes
Consider a short-run equilibrium in a perfectly competitive market. Suppose that the firms' average total cost and marginal cost schedules differ. In the short run,
A) all firms in the market must be able to make an economic profit. B) all firms produce equal amounts of output. C) some firms might incur an economic loss, but still produce output. D) some firms might make an economic profit and, as a result, shut down. E) all firms in the market must be able to make either positive or zero economic profit.
The classical theory of the market concluded that the interest rate would equate _____ and _____.
Fill in the blank(s) with the appropriate word(s).
A headline reads "Good weather increases the lettuce crop." This situation would lead to a(n):
a. Decrease in the price of lettuce and an increase in the quantity purchased b. Increase in the price of lettuce and quantity purchased c. Decrease in the price of lettuce and decline in quantity purchased d. Increase in the price of lettuce and decrease in quantity purchased