Aggregate demand represents the _____ at alternative price levels
a. total spending in the economy
b. total saving in the economy
c. total money demand in the economy
d. total output of the economy
e. total money supply in the economy
a
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In Barylia, Greenaqua Corp . is the sole controller of a resource required for the production of bottled drinking water. Therefore, Greenaqua Corp . enjoys:
A) legal market power. B) natural market power. C) regulated market power. D) restricted market power.
When the term "price" is used in the law of demand, price refers to
A) the dollar price of the good. B) the price of the good relative to the price of another good. C) the absolute price of the good. D) the nominal price of the good relative to its nominal price in the previous year.
If prices increase only in the United States, then:
A. U.S. goods become relatively more expensive than goods from other countries. B. U.S. goods become relatively less expensive than goods from other countries. C. the prices of foreign goods must rise. D. the income level of people in the US must rise.
The quantity theory of money:
A. has become increasingly irrelevant. B. is more relevant today than ever before. C. is no longer relevant. D. is relevant in some cases but not others.