A curve showing the amount of real output we collectively wish to purchase at various alternative price levels is called the ___________.
Fill in the blank(s) with the appropriate word(s).
aggregate demand curve
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In international trade, all payments and gifts that are related to the purchase or sale of both goods and services are referred to as the
A) current account. B) capital account. C) labor account. D) official reserve transactions account.
Generally speaking, the more competitive a country's markets are, the greater are the opportunities for corruption
a. True b. False Indicate whether the statement is true or false
If the quantity of public goods produced were decided by market forces (supply and demand),
a. there would be more goods provided than would be optimal b. there would be fewer goods provided than would be optimal c. the markets would provide the optimal number of goods d. prices would be optimal, but the optimal quantity of goods would not be produced e. the firms producing the public goods would earn excess profit
The burden of a tax is placed entirely on the buyers of a good when the demand for the good is _____
a. perfectly inelastic b. perfectly elastic c. unit elastic d. relatively elastic