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Author Question: The mean income of 25 employees working in a firm is 1,754 per month. What is the total income of ... (Read 181 times)

ssal

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on: Jun 30, 2018
The mean income of 25 employees working in a firm is 1,754 per month. What is the total income of all the employees?
 
  A) 63,950 B) 43,850 C) 56,225 D) 40,000

Question 2

What are the three forces that cause the aggregate demand curve to slope down? Explain.
 
  What will be an ideal response?


ecox1012

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

The three forces are the real-balance effect, the interest rate effect, and the open-economy effect. An increase in the price level causes the purchasing power of money balances to fall, interest rates to increase and borrowing to fall, and imports to increase and exports to decrease. Each of these cause total planned real expenditures to decrease.


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