The existence of a shortage means
A) people are buying more than is available.
B) people cannot buy as much as they plan to buy at the prevailing money price.
C) prices are too high.
D) there is not enough to satisfy everyone's needs.
B
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All of the following are incomes earned in the factor market EXCEPT
A) wages. B) prices of goods and services. C) rents. D) profits.
If the consumption function is defined as C = 5,500 + 0.9Y, what is the value of the multiplier?
A) 0.l B) 0.9 C) 6.1 D) 10
Unemployment that results from business recessions that occur when aggregate demand is insufficient to create full employment is
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment.
The process of bringing together buyers and sellers in a market is called:
A. intermediation. B. supply and demand. C. the invisible hand. D. equilibrium.