Aggregate demand refers to the relationship between:
A. prices and the quantity of a good supplied.
B. the price level and the quantity of real GDP supplied.
C. prices and the quantity of a good demanded.
D. the price level and the quantity of real GDP demanded.
Answer: D
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Net entrants to the labor force is likely to be highest when the economy ________
A) is entering a recession B) nears the peak of an expansion C) has passed the peak of an expansion D) begins to recover from a recession
What is meant by the statement that investment projects are irreversible? How does the idea that investment projects are irreversible affect the volatility of investment in capital goods?
What will be an ideal response?
The official poverty rate for the United States for a family of four is approximately:
a. $12,000. b. $16,000. c. $20,000. d. $24,000.
Scarcity implies that
A) people should limit their wants, since shortages exist. B) firms should be more efficient when producing goods. C) people must make choices. D) nonrenewable resources should never be used.