There is a shortage of quantity demanded over quantity supplied when
A. market price is above equilibrium price.
B. market price equals equilibrium price.
C. market price is below equilibrium price.
C. market price is below equilibrium price.
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Which of the following was a country that ran large deficits in the mid-1990s, and plunged into deep recession in 1997 and 1998 when foreign investors became concerned about the health of these economies, and quickly pulled their money out of stock and bond markets, real estate, and banks?
a. North Korea b. Argentina c. Thailand d. India
An investment decision involves choosing
A. The amount of plants and equipment and is a short-run decision. B. A rate of output and is a short-run decision. C. The amount of plants and equipment and is a long-run decision. D. A rate of output and is a long-run decision.
An economy's production function is Y = A , and the economy's total output in equilibrium is $700 billion. Total labor income in this economy is ________
A) $300 billion B) $233.3 billion C) $210 billion D) $400 billion E) none of the above
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.