When monetary equilibrium occurs,
A) the demand for final goods and services equals the supply of final goods and services.
B) gross business investment falls to zero.
C) relative prices remain constant.
D) the quantity supplied of money equals the quantity demanded.
D
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The most significant international undertaking to prevent worsening of global warming is the
a. Montreal Protocol b. Rio Declaration c. Agenda 21 d. Kyoto Protocol e. None of the above
When a government subsidy is granted to the buyers of a product, sellers can end up capturing some of the benefit because
a. the market price of the product will fall in response to the subsidy. b. the market price of the product will rise in response to the subsidy. c. the market price of the product will not change in response to the subsidy. d. producers will reduce the supply of the product.
Suppose that TC = $550, TVC = $500, and MC = $100. If the firm produces 10 units of output, then:
A. AVC > MC B. AFC = AVC C. MC > AVC D. AVC = MC
The central bank in the United States is known as the Federal Reserve System.
Answer the following statement true (T) or false (F)