Which of the following is an equilibrium condition for the goods market in the short-run? # randomize
A. measured savings equal measured investment
B. Desired savings equal desired investment
C. Money demand equals money supply
D. Consumption equals savings
Answer: B. Desired savings equal desired investment
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It is a "given" that an individual firm selling in a perfectly competitive market will take the market price because
A. there are no good substitutes for the firm's product. B. product differentiation is reinforced by extensive advertising. C. the firm's demand curve is downward-sloping. D. each producer supplies a negligible fraction of total market.
Government agencies to which the national health care program assigns the task of assisting individuals, families, and small businesses in identifying health insurance policies to purchase are known as
A) health care exchanges. B) markets for health care. C) health insurance regulations. D) health insurance mandates.
Given the scenario described, if the market price of hammers was $10, then:
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. A. only House Depot would gain surplus by supplying hammers to the market. B. only House Depot and Lace Hardware would gain surplus by supplying hammers to the market. C. House Depot, Lace Hardware, and Bob's Hardware would all supply hammers to the market, but Bob's would lose surplus. D. only House Depot and Bob's Hardware would supply hammers to the market.
Assume Claudia's budget constraint is demonstrated by line A in the graph shown. Which of the following would cause Claudia's budget constraint to shift to line C?
A. The price of books dropped.
B. The price of movie tickets dropped.
C. Claudia's preferences for these two goods decreased.
D. Claudia’s income decreased.