What is the difference between goods and services?
What will be an ideal response?
Goods are tangible merchandise such as cell phones or automobiles. Services are activities done for others, such as providing medical care or legal advice.
Economics
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Refer to the above figure. Suppose the current aggregate demand is represented by AD2. If aggregate demand falls to line AD3, then
A) the new equilibrium will be at j. B) the new equilibrium will be at k. C) the new equilibrium real Gross Domestic Product (GDP) will be x. D) a new price level will be established at a.
Economics
The main source of earning profits for banks is:
a. government securities. b. saving accounts. c. reserves. d. loans. e. checking account fees.
Economics