Equilibrium is defined as a situation in which
A) neither buyers nor sellers want to change their behavior.
B) no government regulations exist.
C) demand curves are perfectly horizontal.
D) suppliers will supply any amount that buyers wish to buy.
A
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All two-dimensional graphs must have an origin, a horizontal axis, and a vertical axis.
Answer the following statement true (T) or false (F)
What amount of money was appropriated by Congress for fiscal stimulus bill of 2009?
a. $225 billion b. $252 billion c. $700 billion d. $787 billion
If the government sets a price floor above what would be the competitive market price of a product, a shortage of the product will develop.
Answer the following statement true (T) or false (F)
The profitability of the second mover in a Stackelberg model is
A) guaranteed to be negative. B) smaller than that of the first mover. C) greater than that of the first mover. D) greater than the Cournot profits.