Most economists believe that real economic variables and nominal economic variables behave independently of each other in the long run.
for example, an increase in the money supply, variable, will cause the price level, variable, to increase but will have no long-run effect on the quantity of goods and services the economy can produce, variable. the notion that an increase in the quantity of money will impact the price level but not the output level is known as the short run, however, most economists believe that real and nominal variables are intertwined. economists use the model of aggregate demand and aggregate supply to examine the economy's short-run fluctuations around the long-run output level. the following graph shows an incomplete short-run aggregate demand (ad) and aggregate supply (as) diagram—it needs appropriate labels for the axes and curves. you will identify some of the missing labels in the questions that follow.
the vertical axis of the aggregate demand and aggregate supply model measures the overall .
the curve shows the quantity of goods and services that firms produce and sell at each price level.

hi noah!

the first time you break a rule, you get a warning.

if you continue to break rules you get kicked out for a certain amount of time.

so, to answer your question 1.

hope this buddy!

- courtney

2 weeks ago lol enoy your dunce cap

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; career pathways;