The aggregate demand curve for an economy depicts the:
a. quantity of goods and services demanded during a given time period at different interest rates, other things held constant.
b. quantity of goods and services demanded at different price levels during different time periods, other things held constant.
c. quantity of goods and services demanded at different price levels during a given time period, other things held constant.
d. quantity of goods and services that the economy is capable of producing during a given time period, other things held constant.
e. final quantity of goods and services actually produced by the economy during a given time period, other things held constant.
Question 2
Which of the following best describes a cartel?
a. As a monopolist, a group of monopolistically competitive firms that jointly reduce output and raise the price.
b. As a monopolist, a group of cooperating oligopolists that jointly reduce output and raise the price.
c. A monopolist that reduces output and raises price.
d. A group of identical non-cooperative oligopolists that are able to reproduce a monopoly equilibrium through price rivalry.
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