Which of the following statements concerning the aggregate demand and aggregate supply model is correct?
a. The aggregate demand and aggregate supply model is nothing more than a large version of the model of market demand and supply.
b. The price level and quantity of output adjust to bring aggregate demand and supply into balance.
c. The aggregate supply curve shows the quantity of goods and services that households, firms, and the government want to buy at each price.
d. The aggregate demand shows the quantity of goods and services that firms are willing to produce at a given price level.
b
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Which is not an example of price discriminating by separating markets?
a. offering discounts for students with IDs. b. charging lower prices for airline tickets with a Saturday stay-over. c. selling 13 bagels (a "baker's dozen") for the price of 12. d. selling snowblowers at a discount in relatively warmer climates.
The two main categories of U.S. exports are
a. transportation goods and fuel b. steel and fuel c. capital goods and industrial supplies and materials d. fuels and agricultural goods e. agricultural and transportation goods