The aggregate demand curve is the sum of all market demand curves in the economy.
Answer the following statement true (T) or false (F)
False
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Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.
When you purchase a new surfboard you do so in the
A) factor market. B) input market. C) product market. D) resource market.
Which of the following attributes of the recession of 2008-2009 is most supportive of the Keynesian view that the crowding-out effect will be minimal during a severe recession?
a. the immediate increase in output and employment generated by the budget deficits of 2008-2009 b. the decline in the general level of prices during 2009 c. short-term interest rates falling to near zero, despite growing budget deficits during 2008-2009 d. short-term interest rates falling to near zero, as the budget deficit declined during 2008-2009
Which of the following constitutes an implicit cost to the Asarta Manufacturing Company?
A. Payments of wages to its office workers B. Foregone interest income from using savings to pay for operating expenses C. Rent paid for the use of equipment owned by the Butters Machinery Company D. Payments using economic profits resulting from current production