Bill's income is $1,000 and his net taxes are $350. His disposable income is

In the Classical model, aggregate demand determines the

A) level of real output. B) the level of employment. C) the price level. D) the velocity of money.

If the supply curve slopes upward and a $3 per unit tax on suppliers raises the profit-maximizing price by $3, demand must be perfectly inelastic

a. True b. False