Government is unnecessary in a free enterprise economy such as the United States
a. True
b. False
Indicate whether the statement is true or false
False
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When are demanders satisfied and suppliers unsatisfied?
a. Never-neither suppliers nor demanders are ever completely happy with the market price. b. Whenever the market price is above its equilibrium level. c. When the market price is relatively low, because then demanders can buy all they want but suppliers cannot make a profit. d. When rises in supply cause a fall in the equilibrium price of the good.
A nation can determine how close it is to the classical range by considering its:
a. Export position. b. Net export position. c. Capacity utilization index. d. Exchange rate. e. All of the above.
How does an import quota differ from an equivalent tariff?
If businesses buy fewer capital goods, and nothing else changes, then total expenditures on U.S. goods and services will decrease. And if total expenditures decrease, then __________ will decrease; consequently, the __________ curve will shift __________
A) aggregate demand (AD); AD; rightward B) short-run aggregate supply (SRAS); SRAS; leftward C) aggregate demand (AD); AD; leftward D) interest rates; AD; leftward E) prices; AD; rightward