The Basic Strength Associated with the Final Stage of Development

question 38

Multiple Choice

The basic strength associated with the final stage of development is

• A) hope.
• B) faith.
• C) purpose.
• D) wisdom.

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Definitions:

Aggregate Supply

The total supply of goods and services that firms in an economy are willing to produce and sell at a given overall price level, during a certain time period.

Aggregate Demand

Total inclination for products and services within an economic system, priced at a determined aggregate price level over an appointed period.

Price Level

The general level of prices for goods and services in an economy at a specific point in time.

Short Run

A period in economics characterized by fixed factors of production, where only some inputs or resources can be adjusted or varied.