Aggregate demand is the:
A. Total quantity of output demanded at alternative price levels.
B. Total quantity of output demanded but only at full employment.
C. Quantity of goods demanded by the largest corporations in the country.
D. Quantity of new goods and services produced.
A. Total quantity of output demanded at alternative price levels.
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A city street is
a. always a public good, whether or not it is congested. b. a public good when it is congested, but it is a common resource when it is not congested. c. a common resource when it is congested, but it is a public good when it is not congested. d. always a common resource, whether or not it is congested.
In the long run, what is the most important factor to shift the aggregate supply curve?
a. Input prices b. Output prices c. Productivity growth d. Wage growth