What is measured on the vertical axis of the aggregate demand graph?

A. nominal income
B. the price level
C. real GDP per year
D. unemployment

Answer: B

Economics

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An increase in the quantity of capital increases ________ and increase in the full-employment quantity of labor increases ________

A) the SAS and the LAS; only the SAS B) the SAS and the LAS; only the LAS C) the SAS and the LAS; the SAS and the LAS D) only the LAS; the SAS and the LAS

Economics

If economists say, "the price is too high," they mean that:

A) quantity demanded is greater than quantity supplied. B) quantity supplied is greater than quantity demanded. C) the equilibrium price exceeds the current price. D) the price of a good will tend to increase.

Economics