What is the best way to describe aggregate demand?
A) quantity required to satisfy equilibrium
B) exports decrease; imports increase
C) amount of a country's goods and services demanded by household and firms throughout the world
D) individual's demand
E) domestic demand of foreign imports.
C
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An increase in the quantity of capital shifts both the long-run and short-run aggregate supply curves
Indicate whether the statement is true or false
Exports are goods and services that are produced:
A. in other countries and consumed domestically. B. domestically and consumed in other countries. C. and consumed in other countries. D. and consumers domestically.
The notion that similar taxpayers should pay similar amounts of taxes is known as
a. vertical equity. b. the benefits principle. c. horizontal equity. d. taxpayer efficiency.
Suppose Mary is willing to pay up to $15,000 for a used Ford pick-up truck. If she buys one for $12,000, her ________ would be ________.
A. economic surplus; $12,000 B. benefit; $12,000 C. economic surplus; $3,000 D. cost; $15,000