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.
An analogy for how cardiac output, resistance, and blood pressure are related.
Unique markings identify individual humpback whales.
Price of Computers, 1982–2010
Possible Sources of Differences in Output per Worker
Doty's data show a very rapid drop in late adulthood in the ability to identify smells
The price of rice in a small country is currently $6 per pound. In order to help low-income ...