When we compare PAE and actual output (Y) if PAE is greater than Y we expect that:
A. eventually production will decrease.
B. eventually production will increase.
C. there will be no change in aggregate production.
D. the government will intervene by cutting down on taxes.
B. eventually production will increase.
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What does the slope of the credit supply curve imply? When do movements along a credit supply curve occur?
What will be an ideal response?
The United Kingdom has a health care system under which the government owns most of the hospitals and employs most of the doctors
Indicate whether the statement is true or false
The law of one price states
A) federal and state statutes that prohibit price discrimination. B) that identical products should sell for the same price everywhere. C) that all customers should pay the same price. D) government regulation of prices for all firms.
Which of the following has a direct relationship rather than an inverse relationship with the supply curve?
a. The number of sellers. b. Resource prices. c. Consumer income. d. Prices of other goods that firms could produce.