The quantity supplied of a good for the market day increases with increases in price
Indicate whether the statement is true or false
F
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Refer to Price Ceiling. The price ceiling creates a deadweight loss equal to
The following questions refer to the accompanying diagram which shows the effects of a price ceiling. The initial price and quantity are P0 and Q0, respectively, and the price ceiling is imposed at the price P1. Assume that none of the potential deadweight loss can be avoided.
a. area A + H.
b. area B + C + D + E.
c. area B + D.
d. area C + E.
Refer to the above figure. If real GDP is $4 trillion, then
A) actual investment spending equals $1 trillion as planned investment spending plus unplanned inventory increases equal $1 trillion. B) consumption expenditures are too low. C) unplanned inventories will decrease. D) unplanned inventories will increase.
A decrease in the interest rate will_____.
a. increase the quantity of money supplied in the economy b. decrease the quantity of money supplied in the economy c. have no effect on the quantity of money supplied in the economy d. increase the quantity supplied of money at an increasing rate
The supply curve for a good is a line that relates
a. profit and quantity supplied. b. quantity supplied and quantity demanded. c. price and quantity supplied. d. price and profit.