Refer to the information provided in Figure 4.3 below to answer the question(s) that follow.
Figure 4.3Refer to Figure 4.3. The government setting the price of pencils at $0.40 would be an example of an effective
A. price ceiling.
B. price floor.
C. market equilibrium.
D. price surplus.
Answer: A
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A change in ________ creates a movement along the aggregate demand curve, while a change in ________ shifts the aggregate demand curve
A) expected profits; tax rates B) the price level; government expenditures C) foreign income; the foreign exchange rate D) real wealth; human capital
The process of countries becoming more open to foreign trade and investment is known as
A) autarky. B) globalization. C) protectionism. D) foreign exchange.
Refer to above Table 2-2. The implicit GDP deflator for year 2 is
A) 1.284. B) 1.432. C) 1.101. D) 1.334.
The short-run macro model is used most often to determine changes in
a. nominal output b. net output c. gross output d. financial output e. real output.