At which of the following price levels would a shortage occur in Figure 8.4?
A. P1.
B. P2.
C. P3.
D. P4.
Answer: A
You might also like to view...
A transfer payment is
a. a payment for moving expenses a worker receives when he or she is transferred by an employer to a new location. b. a payment that is automatically transferred from your bank account to pay a bill or some other obligation. c. a form of government spending that is not made in exchange for a currently produced good or service. d. the benefit that a person receives from an expenditure by government minus the taxes that were collected by government to fund that expenditure.
Explain what it means to say that a theory is falsifiable or refutable? Give a specific example to help support your answer
During the Great Depression, what appeared to be ________ fiscal policy was actually not when the ________ budget deficit or surplus is examined
A) expansionary; actual B) expansionary; cyclically adjusted C) contractionary; actual D) contractionary; cyclically adjusted
In the aggregate expenditures model of the economy, a downward shift in aggregate expenditures can be caused by a:
A. Decrease in government spending or an increase in taxes B. Decrease in taxes or an increase in government spending C. Decrease in interest rates or a decrease in taxes D. Decrease in saving or an increase in government spending