Macroeconomic equilibrium is always good, because:
a. Because it is the only place where planned demand equals planned supply.
b. Actually, macroeconomic equilibrium can be either good or bad. It is not always good.
c. All of the above.
d. None of the above.
e. Because it is the only place where actual demand equals actual supply.
.B
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If the price level rises faster than the money wage rate, the real wage rate falls
Indicate whether the statement is true or false
If some nonprice level determinant causes total spending to decrease, then the effect on aggregate demand will be a: a. movement upward along the curve
b. movement downward along the curve. c. shift to the left. d. shift to the right.
If the interest rate is positive, the present value of $10 to be received in the future is
a. less than $10. b. equal to $10. c. more than $10. d. Any of the above is possible, depending on the interest rate and when the payment is to be received.
Which statement is true for a profit maximizing monopolist?
A. It will not produce where marginal cost equals marginal revenue. B. It can charge whatever price it wants. C. It can avoid diminishing returns to production. D. It always faces a downward sloping demand curve.