In factor, or input, markets
A. firms demand resources.
B. firms supply goods.
C. households demand goods.
D. consumers purchase products.
Answer: A
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An expenditure-changing policy
A) alters the direction of the economy's total demand for goods and services. B) alters the level of the economy's total demand for goods and services. C) has no effect on aggregate demand. D) is the same thing as an expenditure-switching policy. E) affects aggregate supply but not aggregate demand.
The maximum quantity of good X that is affordable is:
A. M/PX. B. M/X. C. PYY. D. M/PY.
Latin American economies have become relatively more closed to international trade since 1985
Indicate whether the statement is true or false
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced. B. an unattainable production point. C. what society wants. D. the economy's optimal production point.