The horizontal axis for an aggregate demand curve measures
A) output of all goods and services measured as a quantity index.
B) real Gross Domestic Product (GDP).
C) quantity demanded of the representative good.
D) disposable personal income.
B
Economics
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If a sum of $15,000 is borrowed at 13% for a year, the interest paid by the borrower is ________
A) $750 B) $1,000 C) $1,950 D) $5,500
Economics
Suppose Orange Inc sells MP3 players and initially has monopoly power because there are only a few close substitutes available to consumers
As more types of MP3 players are introduced into the market, the demand facing Orange becomes ________ elastic and the Lerner index achieved by the firm in this market ________. A) less, declines B) less, increases C) more, declines D) more, increases
Economics