In the above figure, the short-run macroeconomic equilibrium is at the price level ________ and the real GDP level ________
A) 110; $16.5 trillion
B) 120; $16 trillion
C) 100; $16 trillion
D) 110; $16 trillion
A
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Demand for the Brazilian real is
A) determined by how well the real maintains its value. B) a function of the Brazilian banking system. C) derived from the supply of U.S. dollars. D) derived from the demand for Brazilian goods.
Management gets two numbers (price and quantity) from one decision because
a. the marginal utility of goods is fixed. b. producers use both technical and financial information. c. the demand curve consists of price and quantity pairs. d. the average cost curve has only one low point.
To determine the optimal level of output in a market with negative externalities, a benevolent social planner would look for the level of output at which private cost equals private value
a. True b. False Indicate whether the statement is true or false
With specialization
A) opportunity costs tend to be constant. B) there are greater gains in material well being. C) there is more emphasis on self-reliance. D) society is more productive while individuals are less productive.