The aggregate supply and aggregate demand model describes the interaction of which macroeconomic variables?
A. Output and number of sellers
B. Prices and immigration
C. Output and the price level
D. Employment and immigration
Answer: C
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The indifference curves for left shoes and right shoes would most likely be
A) upward sloping and concave to the origin. B) downward sloping and convex to the origin. C) downward sloping and straight lines. D) L-shaped.
Almost 85 percent of American firms have less than
A. 20 employees. B. 100 employees. C. 500 employees. D. 1,000 employees.
Mass marketing involves
A) using all types of media, such as television and radio, to reach as many consumers as possible. B) Internet ads only. C) using direct mailings only. D) lower-cost methods of advertising.
In the absence of increases in the supply of labor, increases in the capital stock are subject to diminishing returns.
Answer the following statement true (T) or false (F)