Aggregate demand is a schedule or curve that shows the amount of a nation's output (real GDP) that buyers collectively desire to purchase at each possible price level.
<h3>What is Aggregate demand?</h3>
- Refers to the summation of goods and services that an economy produced at an available price.
- Aggregate demand is concerned with the finished goods in an economy
- Government expnses on education funding for example increases aggregate demand.
Hence, we can conclude that aggregate demand is a schedule or curve that shows the amount of a nation's output (real GDP) that buyers collectively desire to purchase at each possible price level.
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Answer:
Easy it's B, this is because the rate at which we earn interest with only 1000$ does not keep up with the maintenance fee.
In B u get $1010 because of the interest after the first year,
In D u get $960 because if u get an annual interest of 2% from $1000 u get a total of $1020 but deduction from maintenance fee is $60 per year, Thus $1020-$60 = $960. Same explaination for the others as well.
<span>Reduction in a nation's labor force would long-run aggregate supply curse to the left, representing a reduction in labor. This would tend to drive up labor costs over time. Presumably, the demand curve would remain static in the short-term.
However, such a reduction would also impact the nation's consumption and thereby reduce the demand for products. This would in turn drive a decreased demand for labor (leftward shift) and apply downward pressure to wages.
The answer to this depends on whether the questions is regarding short-term, medium-term or long-term labor supply/demand curve.</span>