A demand curve shows the relationship between
A) the price of a produce and the demand for the product.
B) the quantity that consumers are willing and able to buy and the quantity that sellers are willing and able to offer.
C) the price of a product and the quantity of the product demanded.
D) the amount of a product sellers are willing to sell at a particular price and the amount consumers are willing to buy at that price.
C
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How would aggregate demand change if foreign incomes increase and the exchange rate value of the dollar increases?
a. Neither change would affect aggregate demand. b. The increase in income would decrease aggregate demand; the increase in the exchange rate would increase aggregate demand. c. The increase in income would increase aggregate demand; the increase in the exchange rate would decrease aggregate demand. d. Both changes would decrease aggregate demand.
Resources are efficiently allocated when production occurs where:
A. marginal cost equals average variable cost. B. price is equal to average revenue. C. price is equal to marginal cost. D. price is equal to average variable cost.