Equilibrium is the condition that exists
A. when quantity demanded equals quantity supplied.
B. when the demand curve intersects the price axis.
C. when the demand curve intersects the quantity axis.
D. whenever there is no government intervention in the market.
Answer: A
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In the above figure, the intersection of curves A and B is the point at which
A) average total cost is minimized. B) average variable cost is minimized. C) average fixed cost is minimized. D) total product is maximized.
A lending of a country's savings that occurs when the country has a trade deficit and its citizens purchase real and financial assets from abroad is called a capital inflow
Indicate whether the statement is true or false
The government's chief forecasting gauge for business cycles is the:
a. unemployment rate. b. real GDP. c. personal income index. d. index of leading indicators.
The Latin phrase ceteris paribus means that when a relationship between two variables is being studied:
A. both are treated as unpredictable. B. neither of those two variables is allowed to change. C. all other variables are held fixed. D. we recognize that some factors are unknown.