General equilibrium refers to
A. examining markets without specific information.
B. finding equilibrium from general information.
C. pricing goods at their shadow price.
D. all of these answer options are correct.
E. none of these answer options are correct.
E. none of these answer options are correct.
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Which of the following statements is true of inequality in the U.S. economy?
A) Inequality in the U.S. economy is now less than what it was in the year 1950. B) Inequality in the U.S. economy is now higher than what it was in the year 1950. C) Inequality in the U.S. economy had increased throughout the 20th century. D) Inequality in the U.S. economy had decreased throughout the 20th century.
What would happen if the German economy became viewed as a less desirable place for foreign investors to put their money because of fears about the growth of the German public debt?
a. Equilibrium would not change. b. A lower quantity of financial investment would result. c. A lower interest rate would result. d. Interest rates would not change.
The consumer price index is subject to substitution bias because
a. some pairs of goods are complements rather than substitutes. b. some goods are inferior rather than normal. c. the law of demand applies to most, if not all, goods. d. the index does not take into account the likelihood that consumers substitute newly-introduced goods for more-established goods.
What is the main role of economic profits?
A. To help consumers cover their opportunity cost B. To signal where resources are most highly valued C. To help firms cover their production costs D. None of the statements associated with this question are correct.