Market price is the same thing as equilibrium price.
Answer the following statement true (T) or false (F)
False
Equilibrium price is the price at which quantity demanded is equal to quantity supplied. The market will tend toward equilibrium price but is not always at equilibrium.
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The United States experienced _______________ from 1930 to 1933.
A. stagflation B. inflation C. deflation D. budget surpluses
Briefly describe the 6 main provisions of the Patient Protection and Affordable Care Act (ACA)?
What will be an ideal response?
The U.S. aggregate demand curve is downward sloping because
a. an increase in the U.S. price level causes an increase in U.S. spending on consumption goods b. at lower U.S. price levels, real wealth decreases, causing a decrease in the quantities of U.S. goods and services demanded c. at lower U.S. price levels, interest rates decrease, causing a decrease in the quantities of U.S. goods and services demanded d. at lower price levels in the U.S., U.S. exports become more attractive abroad, the demand for them increases, causing an increase in the quantities of U.S. goods andservices demanded e. increases in the U.S. price level do not affect American's real wealth
Although not the only ones, oligopolists produce goods that
a. have zero cross elasticities b. are unique c. are not differentiated d. have infinite cross elasticities e. have close substitutes