An aggregate demand curve
A. shows various quantities of total real output which will be offered for sale at various alternative price levels.
B. shows the various ways that a given national income can be divided between prices and real output.
C. Shows the relationship between the level of real output and the level of employment.
D. shows the amount of real output we will collectively purchase at various alternative price levels.
D. shows the amount of real output we will collectively purchase at various alternative price levels.
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The filing status of a person who is legally married yet separated as a result of a messy impending divorce is likely to be
A. single. B. married filing jointly. C. single head of household. D. married filing separately.
Which amount is not included in gross domestic product?
A) Payments to a physician for treatment of a respiratory condition caused by air pollution B) The purchase price of a used car bought from a friend C) Wages of government employees D) Wages of people who clean up toxic chemical spills E) Wages of people who sell used cars
Specialization and exchange result in
a. lower production levels than would otherwise be possible b. higher living standards than would otherwise be possible c. more down-time as workers switch activities more frequently d. the assignment of workers to activities according to their preferences e. self-sufficiency
A monopolist maximizes profits by setting the quantity where:
A. marginal revenue is equal to marginal cost. B. marginal revenue is greater than marginal cost. C. marginal revenue is less than marginal cost. D. total revenue is as high as possible.