The equilibrium of aggregate supply and aggregate demand represents the:
A. total of all goods and services produced in the major sectors of the economy.
B. general price level of the economy with respect to goods and services households purchase.
C. overall state of the national economy.
D. All of these are true.
Answer: C
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A country reports the total expenditures on the fixed CPI basket for the past three years
The cost of the CPI basket in 2010 was $23,000, the cost of the CPI basket for the reference base period, 2011, was $23,805, and the cost of the CPI basket in 2012 was $24,500. The CPI for 2010 is A) 96.6. B) 100.0. C) 103.5. D) 106.5. E) 23.0.
Since 1950, the labor force participation rate in the United States
A) of men and women both increased. B) of men increased and women decreased. C) of men and women both decreased. D) of men decreased and for women increased.
In the short run in a perfectly competitive industry,
a. each firm's supply curve is horizontal, but the market supply curve is upward sloping b. the marginal cost curve equals the marginal revenue curve c. the market supply curve is upward sloping because each firm's supply curve is upward sloping d. the market demand curve is the sum of each consumer's marginal revenue curve e. each firm earns only a normal profit
If a country has saving of $2 trillion and investment of $1.5 trillion, then it has
a. a trade surplus and its net capital outflow = $.5 trillion. b. a trade surplus and its net capital outflow = -$.5 trillion. c. a trade deficit and its net capital outflow = $.5 trillion. d. a trade deficit and its net capital outflow = -$.5 trillion.