At equilibrium GDP
A. Savings = investment, but aggregate demand does not equal aggregate supply.
B. Savings = investment and aggregate demand = aggregate supply.
C. Savings does not equal investment and aggregate demand does not equal aggregate supply.
D. Savings does not equal investment, but aggregate demand = aggregate supply.
B. Savings = investment and aggregate demand = aggregate supply.
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The above table gives the demand and supply schedules for cat food. If the price is $1
00 per pound of cat food, will there be a shortage, a surplus, or is this price the equilibrium price? If there is a shortage, how much is the shortage? If there is a surplus, how much is the surplus? If $3.00 is the equilibrium price, what is the equilibrium quantity?
Firms should lower the prices on their goods
a. If the demand for the product is elastic b. If it acquires a firm selling a complement good c. If it acquires a firm selling a substitute good d. Both a and b
Which of the following is an example of a positive externality? a. Nick spends $500 to landscape his yard and his property increases in value by $1,000
b. Mick spends $500 on a stereo, which he plays so loudly that his neighbors are willing to pay him $1,000 not to play the stereo. c. An increase in the demand for computers causes IBM to hire more workers. d. Complaints of speeding cause police to increase surveillance. e. Lisa puts new concrete on her driveway and now the neighboring kids use it for skateboarding.
Sellers in a monopolistically competitive market may be regarded as “monopolists” of their ______.
a. average costs b. advertising c. trade networks d. own brands