U.S. investment is financed from
What will be an ideal response?
Household saving, government budget surpluses, and borrowing from the rest of the world.
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The quantity of real GDP demanded on the AD curve is the equilibrium real GDP when
A) equilibrium expenditure is greater than real GDP. B) aggregate planned expenditure equals real GDP. C) the price level equals the equilibrium price level. D) aggregate planned expenditure is greater than real GDP. E) aggregate planned expenditure is less than real GDP.
In economics, scarcity refers to the situation of:
A) optimizing with the use of limited information. B) having more wants than the amount of available resources. C) rationing of available goods and services by the government. D) sellers setting the prices of their products too high for people to be able to afford them.
In a competitive market, the demand and supply curves are Q = 12 - P and Q = 5P, respectively. If output is fixed at Q = 11, what is the amount of the resulting deadweight loss?
A) 0 B) 0.6 C) 11.4 D) 15
When economic profits are negative in a perfectly competitive industry,
a. we would expect the market supply curve to shift to the left as a result. b. we would expect the market supply curve to shift to the right as a result. c. we would not expect any change in the market supply curve to result. d. we would expect that the market demand curve to shift left as a result