The intersection of the aggregate demand and aggregate supply curves determines the:
A. Productivity level in the economy
B. Shape of the aggregate demand curve
C. Per-unit cost of production in the economy
D. Equilibrium level of real domestic output and prices
D. Equilibrium level of real domestic output and prices
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No firm's total revenue could exceed its total opportunity costs if
A) all firms were price takers. B) prices always cleared the market. C) quantity demanded of every good equaled the quantity supplied. D) the future were completely predictable. E) there were no legal restrictions on entry into any industry.
Suppose your expenses for this term are as follows: tuition: $9,000, room and board: $1,500, books and other educational supplies: $1,000
Further, during the term, you can only work part-time and earn $3,000 instead of your full-time salary of $8,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? A) $10,000 B) $13,000 C) $15,000 D) $18,000
Most nations that split from the USSR saw their incomes increase over the next several years after USSR's collapse
Indicate whether the statement is true or false
In the economy of Talikastan in 2015, consumption was $700, exports were $200, government purchases were $300, imports were $150, and investment was $400 . What was Talikastan's GDP in 2015?
a. $1350 b. $1450 c. $1050 d. $1750