The Aggregate-Demand Curve Shows the Quantity of Domestic Goods and Services

question 169

True/False

The aggregate-demand curve shows the quantity of domestic goods and services that households, firms, the government, and customers abroad want to buy at each price level.

---

Definitions:

Comparative Advantage

In economics, comparative advantage refers to the ability of a country or individual to produce a particular good or service at a lower opportunity cost than its competitors.

Taxi Parts

Components or spares used in the maintenance and repair of taxicabs.

Oranges

A citrus fruit that is a common source of vitamin C, available in several varieties and used in both food and beverages.

Normative Statement

A statement that expresses a value judgment or opinion, indicating what ought to be rather than what is empirically observable.