A change in ________ causes a change in ________ and therefore a change in ________
A) cost; demand; price
B) price; demand; supply
C) supply; price; demand
D) demand; price; cost
D
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To calculate GDP it is necessary to add up the market value of all the ________ produced within a country during a year
A) intermediate goods and services produced and all the final goods and services produced B) intermediate goods and services produced C) goods but not services produced D) final goods and services produced E) goods and services produced
List four things that can shift the demand for an input
What will be an ideal response?
Why are many economists skeptical of the Fed's ability to fine tune the economy?
A) Monetary policy only affects output in the long run. B) Lags in policy make it difficult to properly time policy. C) Fiscal policy can be implemented more quickly than monetary policy. D) Monetary policy does not have any effect on output.
In the long run what primarily determines the natural rate of unemployment? In the long run what primarily determines the inflation rate? How does this relate to the classical dichotomy?