Answer to Question #86320 in Microeconomics for Randy

Question #86320
Explain that overall levels of income, employment, and prices are determined by the spending and production decisions of households, businesses, government, and net exports
1
Expert's answer
2019-03-14T18:26:28-0400

Increased levels of spending by households, businesses, government and purchasers of exported goods and services increase aggregate demand. Overall levels of income, employment and prices are derived from the equilibrium established through the aggregate supply/aggregate demand model. Real output at a particular price level reflects the employment and real wages established in the economy.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS