Which market adjusts the quickest in response to shocks to the economy?
A. The goods market
B. The labor market
C. The asset market
D. The asset, labor, and goods markets adjust at about the same speed to eliminate a disequilibrium in the macroeconomy.
Answer: C
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An increase in taxes would shift the:
A) aggregate demand curve rightward. B) aggregate demand curve leftward. C) aggregate supply curve rightward. D) aggregate supply curve leftward.
Table 11-2 QTRTC89590910293 10110100 11112105 12115110 ? In Table 11-2, marginal revenue at the profit-maximizing output is how much?
A. $5 B. $7 C. $8 D. $110
The socially optimal amount of pollution abatement occurs where society's marginal:
A. benefit of abatement exceeds its marginal cost of abatement by the greatest amount.
B. benefit of abatement equals its marginal cost of abatement.
C. benefit of abatement is zero.
D. cost of abatement is at its maximum.
Which of the following statements is true of the cross-price elasticity of demand?
A) The cross-price elasticity of demand between substitutes is zero. B) The cross-price elasticity of demand between complements is zero. C) The cross-price elasticity of demand between substitutes is negative. D) The cross-price elasticity of demand between complements is negative.