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