As the price level decreases, other things being equal,
a. aggregate demand increases
b. the quantity of real gross domestic product demanded increases.
c. the quantity of real gross domestic product demanded decreases.
d. real gross domestic product supplied increases.
b
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Of the following OECD countries, which has the highest per-capita spending on health care?
A) the United Kingdom B) Japan C) Canada D) the United States
If a firm's goal is to maximize revenue, it will price its product to correspond to the unit-elastic segment of its demand curve
Indicate whether the statement is true or false
The multiplier effect suggests that:
A. a ripple effect occurs from one person's initial spending. B. government spending $1 will create more than a $1 increase in GDP. C. a tax cut will increase GDP by more than the amount of the initial tax cut. D. All of these are true.
Gretchen is a writer who works from her home. Gretchen lives next door to Randall, the trumpet player for a local band. Randall needs lots of practice to earn his share of the band's profit, which will amount to $350 . Gretchen gets distracted by Randall's trumpet playing but she needs to get her writing done to earn $570 for her current article. If Randall owns the right to play his music and
Gretchen needs to hire a lawyer to help her reach an agreement with Randall, then what price is Gretchen willing to pay the lawyer? a. less than $220 b. less than $350 c. less than $570 d. less than $920