Aggregate demand is _____________.
Fill in the blank(s) with the appropriate word(s).
the amount of money that individual, businesses, and the government are willing to spend on goods and services at various prices
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Monetary policy refers to the government's
A) decisions on how much money to spend. B) decisions on how much money to collect in taxes. C) plans for retiring the national debt. D) management of the money supply and interest rates to achieve macroeconomic objectives.
Public schools, parks, libraries, and roads are paid for largely through tax revenue because
a. society finds them so valuable that citizens are happy to pay for their full cost. b. these goods create a free-rider problem. c. if they were funded privately, too many of these goods would be produced. d. All of the above are correct.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
Leaders that give the group total freedom
a. autocratic b. laissez-faire c. democratic d. trait