If equilibrium is present in a market,
a. there is generally either a shortage or a surplus.
b. quantity demanded equals quantity supplied.
c. quantity demanded exceeds quantity supplied.
d. quantity supplied exceeds quantity demanded.
B
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During the housing market and financial crises of 2007 and 2008, the Fed increased the volume of discount loans in an attempt to
A) reassure financial markets and promote financial market stability. B) stabilize prices and reduce the growing inflation rate. C) eliminate structural unemployment to lower the unemployment rate. D) attract foreign investment and stabilize interest rates.
Restricted Formulary Hospitals are big purchasers of pharmaceutical products and have to stock many different chemical entities. However, they increasingly do not stock all. Instead, they restrict their formularies to many of the treatments in a therapeutic class but consciously exclude a few. How does this help them negotiate?
Using the above table, the AFC, the AVC, and the ATC when output is 1 unit are
A. $0, $10, and $10, respectively. B. $10, $10, and $20, respectively. C. $5, $10, and $5, respectively. D. $5, $10, and $15, respectively.
The goods market equilibrium condition in an open economy shows that
A. Sd = NX - Id. B. NX = Sd - Id. C. Sd = Id - NX. D. Sd = Id.