An increase in demand will cause
What will be an ideal response?
an increase in quantity supplied
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From the 1990s to the present, the U.S. current account balance has had a ________, and the U.S. capital and financial account balance has had ________
A) deficit; a deficit B) deficit; a surplus C) surplus; a deficit D) deficit; neither a deficit nor a surplus E) surplus; a surplus
Production possibilities curve analysis includes the idea of:
a. opportunity cost. b. scarcity. c. maximum production choices. d. all of these.
Refer to the following graph. In order to get an expansion in real income and a lower price level then
a. aggregate demand would have to increase.
b. aggregate demand would have to decrease.
c. aggregate supply would have to increase.
d. aggregate supply would have to decrease.
Use the following demand and supply functions: Demand:Qd = 900 - 60PSupply: Qs = -200 + 50PEquilibrium price and output are
A. P = $20 and Q = 150. B. P = $10 and Q = 300. C. P = $100 and Q = 5,300. D. P = $7 and Q = 480.