An increase in the price level cause aggregate demand to increase.
a. true
b. false
Answer: b. false
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The positive externality associated with education is:
a. producers can get higher prices for their goods and services. b. less crowding in the classrooms. c. increases in societal well-being and economic growth. d. technological progress slows as basic research increases. e. the market excludes noncontributors to education from benefits.
Which of the following characterizes a competitive market?
A. A downward-sloping demand curve for the firm. B. Some of the firms sell at a price above the market equilibrium price. C. A vertical demand curve facing each firm in the market. D. A downward-sloping demand curve for the market.
Refer to the above figures. Which panel(s) represent economic growth?
A) Panels A and C only B) Panel D only C) Panel A only D) Panels B and D only
Supplier power tends to be lower when
a. Suppliers are less concentrated b. There are low costs to switching between suppliers c. Both A&B d. None of the above