Because the Fed increased the money supply after the recession in the early 1990s, the
a. AD curve shifted to the left
b. economy returned to equilibrium GDP at a price level that was lower than the original price level
c. price level continued to increase after the recession ended
d. price level fell back to its original level
e. long-run equilibrium GDP decreased
C
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Refer to Figure 24-3. Which of the points in the above graph are possible short-run equilibria?
A) A and B B) A and C C) A and D D) A, B, C, and D
Stock represents
a. a claim to a share of the profits of a firm. b. ownership in a firm. c. equity finance. d. All of the above are correct
In short-run equilibrium, the perfectly competitive firm of Figure 9-3 will produce
a.
zero units of output
b.
200 units of output
c.
275 units of output
d.
475 units of output
e.
575 units of output
Refer to the labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. If this were a monopsonistic labor market, the equilibrium wage rate and level of employment would be:
A. $5 and 3 respectively.
B. $6 and 4 respectively.
C. $7 and 5 respectively.
D. $8 and 3 respectively.