Define aggregate demand
Define aggregate demand: Aggregate demand is stated as the money value of total goods and services demanded by an economy throughout a particular period.
Associate to short-run supply curves, in long-run industry supply curves tend to be additionally: (i) vertical. (ii) positively-sloped. (iii) profitable. (iv) income inelastic. (v) price elastic. C
Beginning at equilibrium, a new highest legal price for Whopper Slushees set at P1 would: (i) cause people to purchase more Slushees and fewer cones from Dairy Queen. (ii) Reduce total market demand. (iii) Yield surplus demand and a scarcity. (iv) Inc
Opponents of the current welfare system who desire the welfare system scaled down tend to argue which this: (1) has constantly experienced funding cuts for the past decade. (2) cannot succeed in helping poor people within a market economy. (3) stimula
The employer can legally pursue a policy of: (i) Wage discrimination which is based on the race or gender. (ii) Closed shop agreements with the unions. (iii) Firing the workers who join union. (iv) Wage discrimination mainly based on the employee’s seniority. (v
Through the strict economic description that a monopoly is: (i) necessarily a very large firm. (ii) one of a few large firms that dominate a market. (iii) a lone firm which completely controls the output of a product along with no close substitu
When interest rates rise, in that case the opportunity costs of: (1) current consumption rise. (2) future consumption rise. (3) current investment decline. (4) government budget deficits decline. (5) saving grows proportionally.
This profit-maximizing firm as in demonstrated figure will set a price where: (1) P > MC = MR. (2) MR > MC = P. (3) MR = P > MC. (4) MR = P > MC. (5) P < MC < MR. Q : Rate of Return on Investment When the When the rate of return on investment equals the interest rate, in that case the optimal level of investment will: (w) rise. (x) fall. (y) not change. (z) Any of the above is possible. Q : Price elasticity of demand relatively The transfer of wealth from industrialized countries to oil exporting countries (OPEC) which followed skyrocketing oil prices within the 1970 year indicates such that the price elasticity of demand for oil: (w) relatively low. (x) relatively high. (y)
When the rate of return on investment equals the interest rate, in that case the optimal level of investment will: (w) rise. (x) fall. (y) not change. (z) Any of the above is possible. Q : Price elasticity of demand relatively The transfer of wealth from industrialized countries to oil exporting countries (OPEC) which followed skyrocketing oil prices within the 1970 year indicates such that the price elasticity of demand for oil: (w) relatively low. (x) relatively high. (y)
The transfer of wealth from industrialized countries to oil exporting countries (OPEC) which followed skyrocketing oil prices within the 1970 year indicates such that the price elasticity of demand for oil: (w) relatively low. (x) relatively high. (y)
When firms exit a declining competitive industry, in that case surviving firms will: (i) reduce their outputs and prices. (ii) experience higher prices and profits. (iii) automate to adjust to lower wages. (iv) sell more output at lower prices. <
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