Output in the Goods and Services Market Will Be Sustained

question 75

Multiple Choice

Output in the goods and services market will be sustained into the future

• A) if aggregate demand and short-run aggregate supply are in balance.
• B) only when the prior choices of decision makers were based on a correct anticipation of prices.
• C) only when prices are rising.
• D) only when wage rates are declining.

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Definitions:

Mental Age

A measure of an individual's intellectual development as compared to the average intellectual capacity of individuals in the same age group.

IQ

An abbreviation for Intelligence Quotient, a measure of a person's intellectual capabilities in relation to their age group.

Heredity

The passing of traits from parents to their offspring, either through asexual reproduction or sexual reproduction.

Cultural Bias

The tendency to interpret or judge human behavior and cultures based on the norms and values of one's own culture.