The ________ model focuses on the relationship between total spending and real GDP in the short run, assuming the price level is constant
A) supply and demand B) national income
C) business cycle D) aggregate expenditure
D
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How does double taxation affect consumption, saving and economic growth?
What will be an ideal response?
Perfectly competitive firms are earning economic profits at a market price of $5 and an average total cost of $4. If new firms enter and do not affect the cost for all firms, the market price will ________ until it reaches ________.
A) increase; $4 B) fall; $4 C) increase; $5 D) fall; $5
What is the source of the demand for dollars in the market for foreign-currency exchange?
Suppose the residents of Metropolis travel to work either by bus or train. If the price of train tickets increases, then:
A. the demand for train tickets will decrease. B. the demand for train tickets will increase. C. the demand for bus tickets will decrease. D. the demand for bus tickets will increase.