The vertical classical aggregate supply curve reflects that
a. money wages adjust proportionally with the price level.
b. real wages are always the same.
c. aggregate output is always the same.
d. None of the above.
e. Both b and c.
A
Economics
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According to Adam Smith, a person should never attempt to make at home
A. what it will cost him more to make than to buy. B. everything one person needs to live. C. what one doesn't know how to make. D. any necessity of life.
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Aggregate demand is
A) the horizontal summation of all demand curves for a product. B) the sum of all planned expenditures for the economy. C) the total quantity of all goods sold in an economy in a year. D) the horizontal summation of all demand curves for state, local, and federal governments and business firms.
Economics