Which three macroeconomic variables together best describe the health of the economy?
A. Output, GDP, and inflation
B. Output, inflation, and prices
C. GDP, unemployment, and employment
D. Output, prices, and employment
D. Output, prices, and employment
Economics
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In building an economic model, variables that are taken as given are referred to as ________ variables
A) exogenous B) endogenous C) concrete D) presumptive
Economics
A demand curve shows the relationship between price and quantity demanded, "other things remaining constant." The other things that remain constant include all of the following except the: a. price of the product
b. price of complementary products. c. price of substitute products. d. number of consumers in the demographic group purchasing the product.
Economics