When the price is less than the equilibrium price
A) there will be a shortage.
B) some consumers will be willing to pay a price higher than the prevailing price.
C) the price will be forced higher.
D) All of the above answers are correct.
D
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Automatic stabilizers are the:
A. taxes and government spending that affect fiscal policy without specific action from policymakers. B. fiscal policies that government actively chooses to adopt. C. expansionary fiscal policies. D. Keynesian policies.
A country experiencing a growth rate of 12% per year can go from being one of the poorest to one of the richest in
a. one generation. In the last couple of decades China's growth rate has been higher than 12%. b. one generation. However, in the last couple of decades not even China's growth rate has been this high. c. three generations. In the last couple of decades China's growth rate has been higher than 12%. d. three generations. However, in the last couple of decades not even China's growth rate has been this high.
If an economy is producing at a point inside a production possibilities curve:
A. there is economic growth. B. resources are fully employed. C. resources are unemployed. D. the economy is efficient.
[Yd - C] equals
A. the MPS. B. saving. C. spending. D. the MPC.