Which of the following economic measures is most useful in comparing different economies across the world?
a. Aggregate supply
b. Total unemployment
c. Gross domestic product
d. Net national product
e. Aggregate expenditure
c
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When the quantity demanded of a good exceeds the quantity supplied of the good at the prevailing market price, _____.
A) the market will be in equilibrium. B) the price of the good will decrease. C) the price of the good will tend to increase. D) the demand curve will shift rightward until the surplus is eliminated. E) the supply curve will shift leftward until the surplus is eliminated.
State three major potential advantages of foreign direct investment for a developing country. State three major potential disadvantages
What will be an ideal response?
If the demand for a monopoly's output shifts leftward, the change in quantity produced is NOT predictable because
A) the monopoly is a profit maximizer. B) the monopoly is a price taker. C) the monopoly has no supply curve. D) the monopoly's marginal cost curve might not be upward sloping.
The demand for money rises. According to the Keynesian transmission mechanism, the interest rate __________, investment spending __________ (assuming it is interest-sensitive), the AD curve shifts to the __________ and if the AS curve is horizontal, Real GDP __________
A) rises; falls; left; rises B) falls; rises; right; does not change C) rises; falls; right; rises D) falls; falls; left; does not change E) rises; falls; left; falls