If there are 2 plumbers and 4 electricians in Marquette, MI, we know
What will be an ideal response?
nothing about their relative scarcity until we find out about the demand for plumbers and for electricians in Marquette.
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According to Keynes, investment demand depends less on interest rates than on the
a. availability of savings b. flexibility of wages and prices c. level of disposable income d. competitiveness of labor markets e. expectations of a continuing robust economy
Total surplus
a. can be used to measure a market's efficiency. b. is the sum of consumer and producer surplus. c. is the value to buyers minus the cost to sellers. d. All of the above are correct.
If there is a rise in the price level, there is a(n) ________ movement along the AS curve because there is ________ in the quantity of real GDP supplied
A) upward; a decrease B) downward; an increase C) upward; no change D) upward; an increase E) downward; a decrease
Equivalent variation is a method employed to measure excess burden. Comment on why a method such as compensating variation would not be appropriate for this analysis.
What will be an ideal response?