Aggregate demand is the sum of
a. C + I + G + (X ? IM).
b. C + I + X.
c. C + I + X ? IM.
d. C + I + G.
a
Economics
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What will be an ideal response?
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In Exhibit 1, what is the producer surplus when the price is $4 and the quantity is one?
a. $7
b. $4
c. $3
d. $1
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A Keynesian model is one in which prices are sticky:
a. in the short run only. b. in the short run and in the long run. c. in the long run only. d. so that they never depend on the money supply.
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The situation of oligopoly suggests
A. many firms compete in an industry. B. mergers have not occurred. C. no barriers to entry exist. D. interdependence among firms.
Economics