Author Question: Identify the correct statement. a. Aggregate demand alone determines equilibrium price and output. ... (Read 213 times)

RYAN BANYAN

  • Hero Member
  • *****
  • Posts: 563
Identify the correct statement.
 a. Aggregate demand alone determines equilibrium price and output.
  b. Aggregate supply alone determines equilibrium price and output.
  c. Aggregate demand and aggregate supply determine equilibrium price and output.
  d. Aggregate demand shows the positive relationship between price level and real GDP.
  e. Aggregate supply shows the negative relationship between price level and real GDP.

Question 2

Normative statements are:
 a. prescriptive, making claims about how the world ought to be.
  b. descriptive, making claims about how the world is.
 c. optimistic, putting the best possible interpretation on things.
  d. statements that establish production goals for the economy.


sierrahalpin

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

c

Answer to Question 2

a



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

For a complete list of videos, visit our video library