The aggregate demand curve shows that, if other factors are held constant, the higher the price level, the
A) greater the quantity of real GDP demanded.
B) smaller the quantity of real GDP demanded.
C) larger consumption expenditure.
D) None of the above answers is correct.
B
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The secondary NAAQS
a. are air quality emissions standards intended to protect public welfare b. are technology-based standards c. are established to protect public health d. control both criteria and hazardous pollutants
In an open economy, the relationship between GDP (Y) and expenditures is Y = C + I + G
Indicate whether the statement is true or false
Market power is illegal
A) True, no one is allowed to charge a price greater than marginal cost. B) False, firms can freely choose their prices. C) True, no one is allowed to charge a price greater than average cost. D) False, because market power guarantees price equal to average cost.
Which of the following help to correct for the market failure of imperfect information?
A. nutrition labeling B. homeowner warranties C. professional licensing D. All of the above are correct.