Aggregate demand is the total demand for
A. all intermediate and final goods.
B. all monetary investments.
C. real and financial investments.
D. all final goods and services.
Answer: D
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Which of the following would cause GDP to overstate the growth in economic well-being over the past 50 years?
A. Increase in leisure time B. Increase in the employment of married women C. Decrease in the employment of maids and housekeepers D. All of the choices are true
If a nation is currently operating at a point inside its production possibilities curve, it
A. can increase the output of one good without decreasing the output of the other good. B. has fully employed resources. C. has no inefficiently employed resources. D. is operating at full potential.
On a given morning, Franco sold 40 pairs of shoes for a total of $80 at his shoe store
a. The $80 is a real variable. The quantity of shoes is a nominal variable. b. The $80 is a nominal variable. The quantity of shoes is a real variable. c. Both the $80 and the quantity of shoes are nominal variables. d. Both the $80 and the quantity of shoes are real variables.
The change in price that results from a leftward shift of the supply curve will be greater if
A) the demand curve is relatively steep than if the demand curve is relatively flat. B) the demand curve is relatively flat than if the demand curve is relatively steep. C) the demand curve is horizontal than if the demand curve is vertical. D) the demand curve is horizontal than if the demand curve is downward sloping.