The neoclassical perspective places more emphasis on
a. supply.
b. demand.
c. aggregate supply.
d. aggregate demand.
c. aggregate supply.
Economics
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If the price of hairspray is represented by P in the equation P = 10 - 0.2 QD, then the corresponding quantity of hairspray demanded is represented by the demand equation
A) QD = 50 -5P. B) QD = -10 + 0.2P. C) QD = 0.5P + 2. D) QD = 5P - 2.
Economics
Use the aggregate expenditures model and assume an economy is in equilibrium at $6 trillion which is $500 billion above full-employment GDP. If the marginal propensity to consume (MPC) is 0.75, full-employment GDP can be reached if government spending:
a. decreases by $75 billion. b. decreases by $125 billion. c. decreases by $500 billion. d. is held constant.
Economics