Table that shows the relationship between the price of a good and the quantity demanded
What will be an ideal response?
demand schedule
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In comparison to a government that runs a balanced budget, when the government runs a budget deficit
A) business investment will fall. B) the equilibrium interest rate will fall. C) household savings will fall. D) none of the above
A perfectly competitive firm with a random demand has an expected marginal revenue that is ________ its expected price.
A) greater than B) exactly double C) less than D) equal to
If the Fed expands the money supply by $1 trillion, what will happen in the money market?
a. The equilibrium interest rate will rise, and less money will be exchanged in equilibrium. b. The equilibrium interest rate will fall, and more money will exchanged in equilibrium. c. The equilibrium interest rate will not change. d. None of the above.
Which of the following is an accurate example of what an aggregate demand curve shows?
a. Jerry’s demand for soft drinks produced in the United States increases as the overall price of soft drinks drops. b. The quantity of real GDP demanded in Canada increases as the general level of prices in the Canadian economy decreases. c. The city of Chicago increases its spending when the quantity of real GDP demanded in the United States decreases. d. Foreign demand for U.S. wheat increases when the general level of prices in the United States decreases.