Equilibrium price refers to the:
A.) Price at which most producers are willing to sell their product.
B.) Price at which the quantity demanded of a good equals the quantity supplied.
C.) Price that equals marginal cost.
D.) Balance between what producers want to charge and what the government will allow.
B.) Price at which the quantity demanded of a good equals the quantity supplied.
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Assume that average labor productivity is the same in each country. Based on the information in the table, which country has the highest real GDP per capita?CountryPopulation (millions)Share of Population Employed (%)A10060B15055C7550D25045E9540
A. Country A B. Country B C. Country C D. Country D
Financial securities that represent partial ownership of a corporation are known as
A) bonds. B) stocks. C) coupons. D) dividends.
The Ii = S equation describes
a. an economy in macroequilibrium b. what producers do; they invest their savings c. an economy that isn't in equilibrium because the critical equation expressing equilibrium—Ii = Ia—is missing d. the coincidence between aggregate investment and aggregate saving e. the surplus associated with intended investment
Consider a firm's short-run cost curves. Which one of the following types of cost declines over the whole range of output?
A) total fixed cost B) marginal cost C) average fixed cost D) total variable cost E) average variable cost