Aggregate demand includes
a. only the quantity of goods and services households want to buy.
b. only the quantity of goods and services households and firms want to buy.
c. only the quantity of goods and services households, firms, and the government want to buy.
d. the quantity of goods and services households, firms, the government, and customer abroad want to buy.
d
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What is the difference between "capital" and "financial capital"? Which is a factor of production?
What will be an ideal response?
An income tax on labor income decreases the ________ of potential GDP, and a tax on interest income decreases the ________ of potential GDP
A) growth rate; growth rate B) level; level C) growth rate; level D) level; growth rate E) None of the above answers is correct.
A pumped storage reservoir used regularly by an electrical utility is efficient for the utility to operate
A) even if it takes twice as much electricity to operate as it generates. B) only if it generates more electricity in the long run than it uses u
When there are economies of scale,
a. per-unit costs increase as output increases b. per-unit costs decrease as output increases c. per-unit costs are constant as output increases d. output does not affect per-unit costs