The total amount of output in the economy is called aggregate supply.
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Q25: Inputs are often called factors of production.
Q26: Capital goods are products which are owned
Q27: A reduction in supply will normally reduce
Q28: Governments only ever intervene in the economy
Q29: Microeconomics would consider questions such as what
Q31: The total of consumer spending in the
Q32: In the 'circular flow of income' model,
Q33: In the 'circular flow of income' model,
Q34: Rational decision- making involves computer- assisted mediation.
Q35: If the marginal benefit exceeds the marginal
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