The aggregate demand curve shows the relationship between the volume of purchases and:
a) The price level.
b) Which goods and services people will buy.
c) The amount producers supply.
d) Real GDP.
Answer: a) The price level.
You might also like to view...
A competitive market is in equilibrium. Then there is a decrease in demand and a decrease in supply. The equilibrium price ________, and the equilibrium quantity ________
A) rises; decreases B) perhaps changes but we can't say if it rises, falls, or stays the same; decreases C) falls; increases D) perhaps changes but we can't say if it rises, falls, or stays the same; increases E) rises; increases
Which of the following about economic growth is true?
a. The developed nations are growing rapidly and the less-developed nations are stagnating. b. Most of the countries that have achieved the highest growth rates in the world during the last quarter of a century were classified as LDCs in 1980. c. It is an oversimplification to divide the world into the growing, developed nations and the stagnating, less-developed nations. d. Both b and c are true. e. All of the above are true.
When a country that imports a particular good imposes an import quota on that good,
a. producer surplus increases and total surplus increases in the market for that good. b. producer surplus increases and total surplus decreases in the market for that good. c. producer surplus decreases and total surplus increases in the market for that good. d. producer surplus decreases and total surplus decreases in the market for that good.
Minimum-wage laws, unions, and efficiency wages contribute to
a. both structural unemployment and the natural rate of unemployment. b. neither structural unemployment nor the natural rate of unemployment. c. structural unemployment, but not the natural rate of unemployment. d. the natural rate of unemployment, but not structural unemployment.