If the market for Twinkies is in equilibrium, then
A) Twinkies must be a normal good.
B) producers would like to sell more at the current price.
C) consumers would like to buy more at the current price.
D) the quantity supplied equals the quantity demanded.
D
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An economy's resources include
A) raw materials. B) factories and machinery. C) human knowledge. D) all of the above
If an increase in the price of one input causes an increase in demand for labor, the two inputs are
A) complementary. B) substitutes. C) interchangeable. D) flexible.
Supply-side economics emphasized government policies to: a. restrict aggregate spending and boost aggregate supply
b. increase minimum wage to improve labor productivity. c. stimulate real GDP by improving incentives to work. d. lower interest rates to boost saving. e. increase government tax revenues in order to increase government purchases.
At levels of output close to full employment, the aggregate supply curve is probably
A. very flat. B. very steep. C. sloped downward. D. perfectly elastic.