If people buy more than has been produced,
A) the economy is in equilibrium.
B) total expenditures are greater than total production.
C) there will be an increase in inventory.
D) there will be a decrease in total output.
B
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What happened to real interest rates during the early 1930s?
A) They declined as nominal interest rates declined. B) They rose as nominal interest rates rise. C) They declined due to deflation. D) They rose due to deflation.
If the tax system is made more progressive, the after-tax wages of high-income workers would _____
a. fall b. rise c. stay constant d. rise or fall depending upon job market conditions
The person most likely to receive a payment from a corporation in a year of losses is the
A) bondholder. B) common stockholder. C) preferred stockholder. D) investment banker.
A firm that produces the entire market supply of a certain good or service is known as:
A.) A competitive firm. B.) An oligopoly. C.) A monopsony. D.) A monopoly.