When plotted with the aggregate price level on the vertical axis and output on the horizontal axis, the aggregate demand curve

Which one of the following variables is classified as a leakage in the output-income-spending flow model presented in the text?

Select one: a. Household saving b. Household Consumption c. Income d. Business Investment

Refer to Table 6-3. Over what range of prices is the demand elastic?

A) between $8 and $16 B) between $14 and $16 C) over the entire range of prices D) between $2 and $8