The foreign purchases, interest rate, and real-balances effects explain why the:
A. Aggregate demand curve is downward-sloping
B. Aggregate demand curve may shift to the left or right
C. Economy will adjust towards equilibrium
D. Aggregate expenditures schedule may shift up or down
A. Aggregate demand curve is downward-sloping
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If price is less than its minimum average variable cost, a perfectly competitive firm that continues to produce in the short run
a. cannot cover any of its variable cost b. incurs a loss greater than its fixed cost c. can cover all of its fixed cost and some of its variable cost d. can cover all of its variable cost and some of its fixed cost e. can cover both its fixed costs and its variable cost
A plumber who quits his job in Indianapolis and moves to Orlando where additional plumbers are needed is said to be ___________________ unemployed
A) frictionally B) structurally C) cyclically D) underemployed
According to the law of increasing opportunity cost, as a society (a)_____________ more and more of a certain good, further production (b)________________ involve ever-greater opportunity costs, so that producing the good is associated with greater and greater (c)_____________________.
Fill in the blank(s) with the appropriate word(s)
At the equilibrium price, Question 21 options:
A. the quantity demanded equals supply. B. the government is setting the price. C. the quantity supplied equals demand. D. the quantity demanded equals the quantity supplied. E. there can be either a small surplus or a small shortage.