The quantity measure in the aggregate demand relationship is the:
A. total quantity of goods and services supplied in the economy.
B. market value of the total quantity of goods and services demanded in the economy.
C. total quantity of goods and services demanded in the economy.
D. market value of the total quantity of goods and services supplied in the economy.
Answer: B
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"I'm telling you, instead of charging $50 each, they could give the opera tickets away for free, and I myself still wouldn't go—ever!" What can we say about this person's demand for opera tickets?
A) His price elasticity is infinite, which means his demand curve is upward sloping. B) His price elasticity is exactly equal to 1, which means his demand curve is unit elastic. C) His price elasticity is exactly equal to 50, which means his demand curve is very elastic. D) He doesn't have a demand for opera tickets.
Using the scenario above explain how this could have happened?
What will be an ideal response?
Government expenditures as a share of the U.S. economy are:
a. the largest in the world. b. the smallest in the world. c. smaller than most Western European countries. d. larger than Canada, France, and the United Kingdom but slightly smaller than Germany and Italy.
A person who takes less care of his health after obtaining a health insurance is creating a negative externality
a. True b. False Indicate whether the statement is true or false