Any change in spending from ________ will also change aggregate demand.
A. households
B. firms
C. the foreign sector
D. All of these
Answer: D
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Economists have long pondered the reasons why people hold money. Some reasons seem to be more important than others. Perhaps not among the most important but still a reason why people hold money is for emergency purposes (the idea of having money available for that "rainy day"). Economist refer to that demand for money as
a. precautionary b. emergency c. speculative d. transactions e. temporary
The marginal product of land depends only on the quantity of land available
a. True b. False Indicate whether the statement is true or false
The effect of an import quota is
A. to shift the supply curve up by the amount of the quota. B. to make the supply curve horizontal at the amount of the quota. C. to lead to a decrease in demand. D. to make the supply curve vertical at the amount of the quota.
In the figure above, a price of $35 per dozen roses results in
A) a surplus. B) upward pressure on the price of roses. C) equilibrium. D) a shortage. E) an eventual rightward shift of the demand curve and/or leftward shift of the supply curve.