In a rent-to-own agreement, the title to the house remains with the landlord until the tenant exercises his or her option and purchases the property. In other words, the starting point of this kind of an arrangement is a tenancy, not a house purchase transaction.
True or false: Derived demand is demand for producer resource/ labor inputs to be used indirectly to satisfy consumer demand in the production of final goods and services. Recall that improvements in the quality of a variable resource increase its marginal productivity and therefore its demand.
The aggregate demand curve can be thought of just like a demand curve for a firm. When the price level is high, aggregate demand is low; when the price level is low, aggregate demand is high. The aggregate demand curve lies in a plane consisting of the price level and income or output. It shows a downward slope with price level on the vertical axis and income or output on the horizontal axis. As such, the aggregate demand curve outlines the relationship between income or output and the price level.