The aggregate demand curve Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. is derived from equilibrium conditions in the labor and money markets a represents the relationship between prices and quantities of all goods produced in an economy C is the sum of an economy's individual demand curves d. gives the equilibrium level of total spending corresponding to a given price level

Q19

Which of the following pair of goods are Substitute goods:- (A) Bread and butter (B) Tea and sugar (C) Pen and ink (D) None of the above

Suppose that the demand for a product is P = 50 – 2Q.  If price rises very slightly from        P = 24,   A.  total expenditure will rise. B.  total expenditure will fall. C.  total expenditure will not change.

Price (dollars per pizza) 6 S S2 Quantity (millions of pizzas per year) In the above figure, the movement from point a to point b reflects a decrease in the cost of the tomato sauce used to produce pizza. an increase in the number of producers of pizza. an increase in the supply of pizza. a decrease in income if pizza is a normal good. an increase in the price of pizza.

Why constant income is one of the assumption of law of demand?

answer D,E,F

EOC 5.04 Which of the below would likely cause the equilibrium price of pencils to rise and the equilibrium quantity of pencils to fall? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The price of erasers rises (a complement in consumption). b The price of pens rise (a substitute in consumption). The price of lead rises (an input into pencils). d Consumers' income rises (assuming pens are a normal good).