The aggregate demand curve shows the relationship between planned purchases of
A) all final goods and services and the price level.
B) all final goods and services and interest rates.
C) all final goods and services and total planned production.
D) all final goods and services and nominal GDP.
A
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The M1 money supply
A) is calculated by subtracting M2 from GDP. B) does not include checking account deposits. C) is the narrowest measure of the nation's money supply. D) does not include travelers' checks.
In the short run, if a perfectly competitive firm is producing at a price below average total cost, its economic profit is:
a. positive. b. zero. c. negative. d. normal.
Which of the following is true about the unions' supply curve of labor?
a. It shifts to the right because unions force firms to increase their employment. b. It is horizontal at the wage rate established by the union. c. Is the same as the marginal labor cost curve of the monopsonist. d. It is steeper than a nonunion supply curve of labor. e. It is downward sloping.
A decrease in consumer confidence will cause a:
A. shift in aggregate demand to the right. B. movement downward along the aggregate demand curve. C. shift in aggregate demand to the left. D. movement upward along the aggregate demand curve.