The demand curve, which assumes that competitors will follow price decreases but not price increases, is called
A) an industry demand curve.
B) an inelastic demand curve.
C) a kinked demand curve.
D) a competitive demand curve.
C
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Suppose that there are only three consumers of a product. At a price of $6 per unit, the first consumer would buy 12 units of the product, the second consumer would buy 8 units, and the third consumer would buy 3 units of the product
If you drew a market demand curve for this product, the quantity demanded at a price of $6 would be A) 23 units. B) 20 units. C) 12 units. D) 11 units.
The economy is considered to be at full employment when:
a. the actual rate of unemployment is less than the natural rate. b. the leading economic indicators are unchanged for two consecutive quarters. c. structural unemployment is zero. d. frictional plus structural unemployment is less than the natural rate. e. the rate of cyclical unemployment is zero.
The level of aggregate expenditures in the private closed economy is determined by the
A. expenditures of consumers and business B. intersection of the saving schedule and the 45-degree line C. equality of the MPC and MPS D. intersection of the saving and consumption schedules
To the monetarists, the key to maintaining stable economic growth is
A. balancing the federal budget. B. maintaining adequate aggregate supply. C. maintaining a constant and low increase in money supply. D. maintaining adequate aggregate demand.