If an economy is currently operating at its full employment level of real GDP, an increase in aggregate demand will _____.
Fill in the blank(s) with the appropriate word(s).
raise the price level
Economics
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People in the U.S. will rarely pay a great deal per gallon to obtain water because
A) there are so many excellent substitutes for water. B) there is no relationship between objective price and subjective value. C) they are usually creatures of habit. D) they think water, as a basic necessity, ought to be supplied at a very low price. E) they place a very low marginal value on water.
Economics
The ebbs and flows of the economy over time is called the
A) yield curve. B) business cycle. C) competitive market process. D) CAPM.
Economics