In the aggregate demand/aggregate supply model, a country's full-employment real GDP is represented by:
a. prices.
b. aggregate demand.
c. aggregate supply.
d. an increase in the general level of prices.
c
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A changes in which of the following shifts the demand curve for hamburgers?
A) an increase in the price of the meat used to produce hamburgers B) an increase in the price of a hamburger C) a fall in the price of french fries, a complement for hamburgers D) an increase in the number of hamburger restaurants
If the demand for a product rises and the supply stays the same
A) the market clearing price will fall and the equilibrium quantity will rise. B) the market clearing price will rise and the equilibrium quantity will fall. C) both the market clearing price and the equilibrium quantity will fall. D) both the market clearing price and the equilibrium quantity will rise.