The aggregate demand curve indicates the relationship between
a. the real wage rate and the quality of resources demanded by producers of goods and services.
b. the interest rate and the amount of loanable funds demanded by borrowers.
c. the natural rate of unemployment and the demand for goods and services when the economy is in long-run equilibrium.
d. the general price level and the aggregate quantity of goods and services demanded.
D
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When firms accuse competitors of predatory pricing, they almost always use as evidence
A) arbitrarily allocated joint costs. B) the disappearance of competitors. C) the profits of their competitors. D) their own losses. E) the gap between price and marginal cost.
Recent data and analysis confirms that minimum wage laws have significantly increased teenage unemployment
a. True b. False Indicate whether the statement is true or false
The market produces too much of a good with ______.
a. adverse selection b. negative externalities c. positive externalities d. asymmetric information
A mining company's extraction costs curve is:
A. Upward-sloping because the more the company extracts, its marginal extraction costs increases B. Upward-sloping because the more the company extracts, its marginal extraction costs decreases C. Downward-sloping because the more the company extracts, its marginal extraction costs increases D. Downward-sloping because the more the company extracts, its marginal extraction costs decreases