Which of the following is NOT one of the components of aggregate demand?
What will be an ideal response?
Money supply.
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Perfectly competitive firms are earning economic profits at a market price of $18 and an average total cost of $15. If new firms enter and increase the average total cost for all firms, the market price will ________ until ________.
A) fall; it reaches the new lower average total cost B) increase; it reaches the new higher average total cost C) fall; it reaches the new higher average total cost D) increase; economic profits are equal to zero
In the United States, the unemployment rate for blacks is roughly the same as the unemployment rate for whites
a. True b. False Indicate whether the statement is true or false
The financial burden entailed in the paying of a tax is known as the
a. incidence of the tax. b. impact of the tax. c. effect of the tax. d. shift of the tax.
Explain how changes in net wealth, the price level, interest rates, and expectations alter the consumption curve