If supply and demand both simultaneously increase,
A. the effect on the market clearing price is indeterminate, and the equilibrium quantity definitely rises.
B. the market clearing price definitely rises, and the equilibrium quantity definitely falls.
C. the market clearing price definitely rises, and the effect on the equilibrium quantity is indeterminate.
D. the market clearing price definitely falls, and the effect on the equilibrium quantity is indeterminate.
Answer: A
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A movement from an upper point to a lower point on the Phillips curve shows
a. decrease in the inflation and decrease in the unemployment. b. increase in the inflation and decrease in the employment. c. increase in the inflation and increase in the employment. d. decrease in the inflation and increase in the unemployment.
A major macroeconomic leakage from the circular flow is:
a. Consumption b. Savings c. Saving d. Gross private domestic investment e. Government spending.
A government agency is having problems with personal telephone calls made during working hours. Because each minute of a personal call costs the agency $0.50 in wasted wages, it has decided to hire operators to monitor calls. The agency wants to hire the number of operators that will minimize the total cost of personal calls.
Based on the above information, if operators receive $300 a week, how many operators should the agency hire?
A. 0 B. 1 C. 5 D. 3
Slope is calculated as a change in the variable on the horizontal axis divided by a change in the variable on the vertical axis.
Answer the following statement true (T) or false (F)