An increase in aggregate demand when the economy is operating at full capacity is likely to result in
A. an increase in output but no increase in the overall price level.
B. an increase in the overall price level but no increase in output.
C. an increase in both output and the overall price level.
D. no increase in either output or the overall price level.
Answer: B
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Consider the following factors:
a. culture b. religion c. customs d. prices e. income Which of the factors above are likely to influence the choices consumers make? A) a, d, and e only B) d and e only C) all the factors except c D) all the factors except b E) all the factors listed
Which of the following is true about land rent? a. It is the difference between the payment for using land in production and the cost of such use
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