Consider a Simple Macro Model with Demand-Determined Output

question 78

Multiple Choice

Consider a simple macro model with demand-determined output.Other things being equal,the price level and desired aggregate expenditure are related to each other

• A)positively.
• B)proportionally.
• C)progressively.
• D)exponentially.
• E)negatively.

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Definitions:

Average Product

The output produced per unit of input used; calculated by dividing the total product by the quantity of inputs.

Yards Raked

The total area of yards cleared of leaves or debris, serving as an indicator of performed maintenance or service activity.

Average Product

The output produced per unit of input, calculated by dividing total product by the quantity of input used in its production.

Labor

The human effort, both physical and mental, used in the production of goods and services.