Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are
A. sticky prices.
B. administered prices.
C. market prices.
D. regulatory prices.
Answer: A
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The IS curve slopes upward because
a. as income rises, savings rise and consumption falls, decreasing output. b. as interest rates rise, the money supply rises, increasing output. c. as interest rates rise, planned investment must fall, increasing output. d. as income increases, money demand rises, which increases interest rates.
If the market mechanism causes the economy to arrive at the wrong mix of output, there is:
A.) Market failure. B.) Mixed economy failure. C.) Government failure. D.) Laissez faire.
Sales forecasts are applications of demand theory.
a. true b. false
Given a linear curve, the value on the y-axis changes from 120 to 100 when the value on the x-axis changes from 5 to 10, then the slope of that curve is
A. -20. B. +4. C. -4. D. +20.