The aggregate demand curve or schedule shows the relationship between the total demand for output and the:
A. Income level
B. Interest rate
C. Price level
D. Real GDP
C. Price level
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Identify two activities that generate positive externalities and two activities that generate negative externalities. Be sure to explain why each activity you identified generates the type of externality you stated.
What will be an ideal response?
The amount of income left after an individual pays taxes to the government is called disposable income
a. True b. False Indicate whether the statement is true or false
An example of an implicit cost is:
A. the wages paid to workers. B. the interest on business loans. C. the imputed rent on a store owned by the firm. D. the materials used to produce the product.
Refer to the graph shown. Calculate the approximate average elasticity of demand as the price falls from $18 to $0:
A. 1. B. 3. C. 3/2. D. 2/3.