Whenever there is a shortage at a particular price, the quantity sold at that price will equal:
a. the quantity demanded at that price
b. the quantity supplied minus the quantity demanded.
c. the quantity supplied at that price.
d. (quantity demanded plus quantity supplied)/2.
c
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The social insurance provided by the government is insurance against
a. floods, hurricanes, and other natural disasters b. loss of funds in private pension programs c. sizable income losses when people retire or when they become disabled or unemployed d. loss of value of stocks and bonds when corporations go bankrupt e. loss of funds in private pension plans, retirement annuities, and unemployment
Monopoly power in a market causes:
A. monopolists to profit. B. governments to never allow them. C. market surplus to be constant D. consumers to gain.
Suppose the money multiplier in the United States is 3. Suppose further that if the Fed decreased the discount rate by 1 percentage point, banks change their reserves by 300. To increase the money supply by 2,700 the Fed should:
A. reduce the discount rate by 3 percentage points. B. raise the discount rate by 3 percentage points. C. raise the discount rate by 10 percentage points. D. reduce the discount rate by 10 percentage points.
Points that lie outside (or beyond) the PPF are
What will be an ideal response?