Which components of aggregate demand together account for around 30 percent of total economic activity, as measured by GDP?
a. investment, government purchases, and net exports
b. goods, services, and government purchases
c. consumption, net imports, and disposable income
d. consumption, net exports, and government purchases
a. investment, government purchases, and net exports
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Although all points on the production possibilities frontier are efficient, that alone does not determine which point is “best” for the society.
Answer the following statement true (T) or false (F)
During business cycle expansions when income and wealth are rising, the demand for bonds ________ and the demand curve shifts to the ________, everything else held constant
A) falls; right B) falls; left C) rises; right D) rises; left
The demand curve depicts quantities demanded that have been gathered as prices have changed over time
a. True b. False Indicate whether the statement is true or false
Marginal revenue is the additional revenue a business gets from producing or selling one more unit of input.
Answer the following statement true (T) or false (F)