In the view of the Classical economists, a increase in aggregate demand leads to
A) lower output levels.
B) a higher price level.
C) higher output levels.
D) a lower price level.
B
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The largest sector in the consumer price index market basket is food and beverage purchases
a. True b. False Indicate whether the statement is true or false
Which statement is true? In the short run, a perfect competitor will
A. operate at its most efficient output only if it is making a profit. B. operate at its most efficient output only if it is taking a loss. C. operate at its most efficient output if it is making a profit or taking a loss. D. not operate at its most efficient output if it is making a profit or taking a loss.
Studies of U.S.-Canadian free trade have concluded that the number of new jobs created in Canadian manufacturing were _________ the number of jobs lost elsewhere in Canadian manufacturing due to free trade.
a. less than b. equal to c. greater than d. substantially greater than
Consumer surplus is the net economic benefit to consumers who are able to buy a good at a price lower than the highest price they are willing to pay.
Answer the following statement true (T) or false (F)