According to the above figure, equilibrium is at point
A. C.
B. D.
C. E.
D. B.
Answer: A
You might also like to view...
Which of these trends in the nominal and real interest rates has been observed in the U.S. economy? a. During the recession of 2009, the nominal interest rate was almost equal to the real interest rate. b. In the mid 1970s, the nominal interest rate
was very low while the real interest rate was very high. c. In the mid 1990s, the nominal interest rate was almost equal to the real interest rate. d. In the 1980s, the real interest rate was very low while the nominal interest rate was very high.
Purchasing common stock by writing a check best exemplifies money serving as a:
A. store of value. B. unit of account. C. medium of exchange. D. index of satisfaction.
The stronger the product differentiation in monopolistic competition, the:
A. Less elastic the demand curve, and production will take place further to the left of minimum average costs B. Less elastic the demand curve, and production will take place further to the right of minimum average costs C. More elastic the demand curve, and production will take place further to the left of minimum average costs D. More elastic the demand curve, and production will take place further to the right of minimum average costs
In a two-nation, two-good world, if country A has the comparative advantage in producing good X over country B, then country A:
A. Should not trade with country B B. Could have the comparative advantage in producing the other good Y as well C. Must have the comparative disadvantage in producing the other good Y D. Can produce good X with fewer resources than country B