If demand rises and supply rises, equilibrium price will _____ and equilibrium quantity will _____.
Fill in the blank(s) with the appropriate word(s).
rise, fall, or stay the same; rises
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The regulatory agency responsible for regulating the activities of life insurance companies is
A) the FDIC. B) the Fed. C) the FHLBS. D) the appropriate state agency where the company is operating.
The efficient quantity of a public good to produce is found where the marginal cost of producing an additional unit of the public good equals its marginal benefit. This occurs where the marginal cost curve intersects the ________ curve
a. marginal revenue b. average cost c. market demand d. total cost
The secondary effects of an economic action refer to the
What will be an ideal response?
Refer to the information provided in Figure 24.5 below to answer the question(s) that follow.
Figure 24.5Refer to Figure 24.5. If the economy is in equilibrium and the government increases taxes by $100 billion, equilibrium aggregate output ________ to $________ billion.
A. decreases; 1,300 B. decreases; 1,000 C. increases; 1,700 D. decreases; 1,500