The intersection of the aggregate demand and aggregate supply curves determines the:
a. Per-unit cost of production in the economy
b. Shape of the aggregate demand curve
c. Shape of the aggregate supply curve
d. Equilibrium level of real domestic output and prices
d. Equilibrium level of real domestic output and prices
You might also like to view...
"Economic exploitation" is measured by:
a. the sum of all input costs, both direct and indirect. b. the difference between the value of output a worker adds and what she receives. c. the difference between a monopoly's profit and the profit of a competitive firm. d. the average wage of a skilled worker divided by the average wage of an unskilled worker.
A good economic model should capture as many details about real-world behavior as possible
a. True b. False Indicate whether the statement is true or false
Inventory reductions are a signal indicating that
a. the economy is close to disaster. b. the Dow Jones Industrial Average will fall. c. manufacturers need to increase production. d. All of the above are true.
The predecessor to the AFL was the
A. Teamsters Union. B. Knights of Labor. C. CIO. D. The International Workers of the World.