Aggregate demand is _____________.
Fill in the blank(s) with the appropriate word(s).
the amount of money that individual, businesses, and the government are willing to spend on goods and services at various prices
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If income distribution in an economy is perfectly equal, the lowest quintile will earn 20% of total income
Indicate whether the statement is true or false
Suppose that a $4 per unit tax is imposed on the sellers of DVDs. The effect of the tax will be to
a. shift the supply curve up by exactly $4 and the price paid by buyers will remain unchanged. b. shift the supply curve up by exactly $4 and the price paid by buyers will rise by less than $4. c. shift the supply curve up by exactly $4 and the price received by sellers will rise by exactly $4. d. shift the demand curve down by exactly $4 and the price paid by buyers will fall by exactly $4.