Quantity supplied is determined by how much producers are willing and able to produce.
Answer the following statement true (T) or false (F)
True
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If the world price of a good is equal to its no-trade equilibrium price, the country will import more of the good from other nations
a. True b. False Indicate whether the statement is true or false
In the early 1920s,
a. Germany experienced a very high rate of inflation. b. the quantity of German money was declining rapidly. c. the value of German money remained almost constant. d. All of the above are correct.
The long-run aggregate supply (LRAS) curve is a ________ drawn at ________
a. horizontal line; the equilibrium price level b. vertical line; the potential output level c. downward-sloping curve; the equilibrium price level d. horizontal line; the potential output level
Here is a consumption function: C = C0 + MPC(Yd). If C0 = $200, then we know that
A) if Yd is zero, C will be $200. B) when Yd rises, C rises by $200. C) when Yd falls, C falls by MPC times C0. D) C will always equal C0.