When the supply and/or demand curve shift, the new market clearing price is
A) reached instantaneously.
B) reached only after the government intervenes in the market.
C) reached after some period of adjustment.
D) never reached.
C
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A reduction in unemployment benefits will
A) not change the amount of frictional unemployment because unemployment benefits affects only structural unemployment. B) increase the amount of frictional unemployment. C) decrease the amount of frictional unemployment. D) increase the amount of cyclical unemployment. E) not change the amount of frictional unemployment because unemployment benefits affects only cyclical unemployment.
________ in economics is a measure of satisfaction or happiness that comes from consuming a good or service
A) Budget B) Utility C) Income effect D) Substitution effect
Fluctuating exchange rates can alter a multinational firm's profits and losses. German company Bayer produces products in Germany and sells them in the United States
If the dollar depreciates against the euro, then Bayer's sales in the United States should ________ because it will take ________ U.S. dollars to purchase the German-made products. A) fall; more B) fall; fewer C) rise; more D) rise; fewer
In dollar value, the nominal GDP in the United States is
a. between 5 and 6 billion. b. between 8 and 9 billion. c. between 8 and 10 trillion. d. between 13 and 15 trillion.