The market demand curve
A. is the vertical summation of the demand curves of all the consumers in the market.
B. shows how much all consumers demand at various prices.
C. is quite complex to construct, given the demand curves of the individual consumers.
D. all of the above
Answer: B
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If the price of inputs rises and consumer expectations about future economic activity worsens:
a. Price index falls, and real GDP rises. b. Price index falls, and real GDP falls. c. Price index falls, and the change in real GDP is uncertain. d. The change in price index is uncertain, and real GDP rises. e. The change in price index is uncertain, and real GDP falls.
The "Big Mac index" was created by The Economist magazine to determine
A. how successful the McDonald's corporation has been around the world. B. the accuracy of exchange rates. C. whether or not the dollar was overvalued or undervalued. D. None of these statements are true.