Market equilibrium occurs when
A) other things remain the same.
B) the market is changing rapidly.
C) the quantity demanded equals the quantity supplied.
D) buyers get the lowest possible price.
E) everyone who wants the good gets the quantity he or she wants.
C
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In macroeconomics, we talk about:
A. consumption at a regionallevel. B. production of mostgoods in the economy. C. prices in one specific market. D. investment on a national level.
________ is the yardstick used to compare living standards across nations
a. Investment level b. Output per capita c. Net export d. Interest rate
Assume a perfectly competitive firm is producing a level of output at which MR? < MC. What should the firm do to maximize its? profits?
A) The firm should do nothing — it wants to maximize the difference between MR and MC in order to maximize its profits.
B) The firm should decrease output.
C) The firm should increase price.
D) The firm should increase output.
An advantage of foreign direct investment versus domestic investment for businesses can be to:
A. cut costs of production. B. reduce overall risk relative to financial investments available at home. C. increase profit without having to pay taxes on the earnings. D. encourage the flourishment of ‘sweatshops’.