The DD schedule shows
A) interest rate and output pairs for which aggregate demand equals aggregate output.
B) exchange rate and output pairs for which aggregate demand equals aggregate output.
C) exchange rate and output pairs for which aggregate supply equals aggregate output.
D) interest rate and output pairs for which aggregate supply equals aggregate output.
E) exchange rate and output pairs for which aggregate demand is greater than aggregate output.
B
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When all of the available factors of production are being efficiently employed, the
A) economy is producing at a point within its PPF. B) economy is producing at a point on its PPF. C) economy is producing at a point beyond its PPF. D) PPF disappears. E) opportunity cost of changing production is infinite.
In the Classical model, the price level is determined by
A) aggregate supply. B) the level of output. C) the Cambridge k. D) aggregate demand.