Aggregate demand is the sum of total domestic spending by the private sector
a. True
b. False
Indicate whether the statement is true or false
False
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In recent years, the cost of producing organic produce in the United States has decreased largely due technological advancement. At the same time, more and more Americans prefer organic produce over conventional produce
Which of the following best explains the effect of these events in the organic produce market? A) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in both the equilibrium price and the equilibrium quantity. B) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price. C) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price. D) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity.
In the Keynesian aggregate expenditures model, "aggregate expenditures" refer to:
a. the amount of GDP that could be produced if unemployment were zero. b. the combined expenditures of consumers, businesses, governments, and foreigners (net exports). c. the amount of demand for consumer goods that would arise if all citizens had all the income they wanted. d. consumer spending measured in constant prices.
Which of the following is inconsistent with the burglary crime model presented in the textbook?
A) The burglary rate rises during recessions. B) The burglary rate declines during recessions. C) The burglary rate remains does not change because of a recession. D) The anguish cost of committing a burglary is directly related to the expected cost of committing a burglary. E) a and d
Some electrical utilities are monopolies because of
A. diseconomies of scale. B. their inability to earn profits. C. ownership of resources without close substitutes. D. government restrictions that prevent new firms from entering the market.