The "quantity demanded" of any good or service is ________ during a specified time period and at a specified price
A) the amount people are willing to buy
B) the amount people are able to buy
C) the amount people are willing and able to offer
D) the amount people are willing and able to buy
E) the amount people are willing to buy because it is the amount sellers are willing to sell
D
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Use the following table to answer the next question. All figures in the table below are in billions. RGDPConsumption +InvestmentExportsImports$500$525$15$1055056015106005951510650630151070066515107507001510Assume that investment is not affected by the income real GDP level. The multiplier for this private open economy is
A. 3.33. B. 2.00. C. 1.25. D. 2.50.
When a negative externality exists, the market is said to underproduce the good connected with the negative externality.
Answer the following statement true (T) or false (F)
Assume that a firm spends $500 on two inputs, labor (graphed on the horizontal axis) and capital (graphed on the vertical axis)
If the wage rate is $20 per hour and the rental cost of capital is $25 per hour, the slope of the isocost curve will be A) 500. B) 25/500. C) -4/5. D) 25/20 or 1.25.
The expectation of greater inflation resulting from the government's creation of money often results in a:
A. less inflationary pressure. B. higher nominal demand for goods. C. lower money velocity. D. less rapid money growth.