Answer:
Tourists flock to visit the major theme park's in Orlando, Florida.
Determinant of AD: Consumer confidence is the best determinant in this case. Tourists flock the theme parks because households not only have enough money to spend on recreation, but also feel that they will continue to have enough money to make ends meet in the near future, otherwise they would not go to the parks, and instead would save the money.
Direction of the shift: the AD curve shifts to the right, because AD is increasing, and the AD curve increases when it shifts to the right.
Impact on output and price level: Output increases because consumer confidence, and as a result, consumer demand, is boosting aggregate demand.
Price level also increases, because demand is pushing the price of a good that has a relatively inelastic supply (the theme parks). In other words, demand is rising more than supply, and this increases the price.
True.
A pure market economy requires all property be owned by private individuals and all transactions are free from control or restriction by the government. Since the United States Government does participate in and regulate the economy, the US cannot be "pure market."
Adolescence is associated with genomically patterned consolidation of the hubs of the human brain connectome
Economics in the micro-level is scarcity economics, means that every decision that is made by an individual is created based on the availability of the scarce product.
<h2>Further Explanation:</h2>
The economic is a human activity that has a purpose in improving the social standard of living based on the choice of scarcity.
Take an example of the goods for production.
In the fundamental theory of economy, which accommodated in Adam Smith in the latest 18th century.
Human has to choose among
- Lands / Capital
- Labor
- Entrepreneurship
The development of economy nowadays made a lot of health care facility to be more achievable. Take a look at public healthcare; in the past, there is no concept of insurance or general health standard. There is no standard of safety in working place. There is no transparent constitution background for someone to be safe.
Also, take a look at how easy a person in getting food. There is no more activity, like hunting for a person to get food.
<h2>Learn more</h2>
<h2>Details of the question</h2>
Grade: University level
Subject: Economy
Chapter: Microeconomy