The intersection of the aggregate supply curve and the aggregate demand curve occurs at the economy's equilibrium level of
A) real investment and interest rate
B) real disposable income and unemployment
C) real national output and the price level
D) government expenditures and taxes
E) imports and exports
Ans: C) real national output and the price level
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Consider a market for used cars. Suppose there are only two kinds of cars: lemons and good cars. A lemon is worth $1,500 both to its current owner and to anyone who buys it. A good car is worth $6,000 to its current and potential owners
Buyers can't tell whether a car is a lemon until after they have bought the car. What do economists call the problem that buyers of used cars face? What kind of cars (lemons, good cars, or both) are traded? Explain and substantiate your answer.
A series of pro-labor laws were enacted by President Roosevelt and the U.S. Congress primarily as a result of the plight of workers during the Great Depression
Indicate whether the statement is true or false