Any point on the aggregate demand schedule must also be

A) a point that clears the market for real money balances.
B) a combination of real interest rates and income where aggregate desired expenditures is in balance.
C) a point where money demanded is equal to money supplied.
D) all of the above.


D

Economics

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The above figure illustrates a perfectly competitive firm. Curve B represents the

A) MR curve. B) ATC curve. C) MC curve. D) AVC curve. E) AFC curve.

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What are the defining features of Keynesian macroeconomics and what policies do Keynesian macroeconomists recommend?

What will be an ideal response?

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When economists use the term Ceteris paribus, they are indicating that:

a. the relationship between two economic variables cannot be determined. b. the analysis is true for the individual but not for the economy as a whole. c. all other variables except the ones specified are assumed to be constant. d. their conclusions are based on normative economics rather than positive economic analysis.

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Suppose a nation's 2010 nominal GDP was $972 billion and the general price index was 90. To make the 2010 GDP comparable with the base year GDP, the 2010 GDP must be:

a) deflated to $678 billion. b) deflated to $896 billion. c) inflated to $1080 billion. d) deflated to $1080 billion.

Economics