If the equilibrium level of income is solely a function of aggregate supply, then the aggregate supply curve must be in the Keynesian region
a. True
b. False
Indicate whether the statement is true or false
False
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If both the demand and supply increase, the equilibrium quantity ________ and the equilibrium price ________
A) increases; falls B) decreases; might rise, fall, or not change C) decreases; rises D) increases; might rise, fall, or not change
When considering the definition of "monopolistic competition," it is wise to place emphasis upon the first word as it most nearly describes market performance within this industry structure
Indicate whether the statement is true or false
Use the following choices regarding the various types of unemployment to describe this situation. Tired of the same job, day-in and day-out, Delores quit her job and is looking for more challenging work.
A. frictional unemployment B. structural unemployment C. natural unemployment D. cyclical unemployment
There are a few firms selling differentiated products in a monopolistically competitive industry.
Answer the following statement true (T) or false (F)