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.
B) the sum of all planned expenditures for the economy.
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Which of the following statements is true of colonies set up in North America?
A) Production was based on defined property rights in the colonies in North America. B) The institutions set up in colonies in North America were mostly extractive. C) The institutions in these colonies were similar to other British colonies established in Jamaica and Barbados. D) Most of the people in these colonies were engaged in industrial production.
Sofia, a political science student, thinks that the government should intervene to revive declining industries like video rentals and print newspapers
The government, she reasons, can resolve the coordination problem of getting the agents in these markets to trade. Do you agree with her? Explain your answer.