To achieve economic efficiency in energy use, an economy:
A. often uses a variety of energy sources.
B. must use the single energy source in which it can achieve economies of scale.
C. should use all energy sources in equal proportion.
D. should only use domestically produced energy.
Answer: A
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If the equilibrium price level is 135 but the actual price level is 150, then
A) firms increase their production because they are able to sell their output at a higher than expected price. B) aggregate demand will decrease to restore equilibrium. C) aggregate demand will increase to restore equilibrium. D) the quantity of real GDP demanded is less than the quantity of real GDP supplied. E) the quantity of real GDP demanded is greater than the quantity of real GDP supplied.
Explain the difference between macroeconomic variables that are in terms of levels and growth rates. Which important macroeconomic variables are which? Which one is the unemployment rate?
What will be an ideal response?
If consumers view the output of any firm in a market to be identical to the output of any other firm in the market, the demand curve for the output of any given firm
A) will be identical to the market demand curve. B) will be horizontal. C) will be vertical. D) cannot be determined from the information given.
A technology spillover occurs when one firm's research and production increase another firm's access to technological advances
a. True b. False Indicate whether the statement is true or false