When the quantity of real GDP demanded exceeds the quantity of real GDP supplied, firms
A) increase production and prices.
B) decrease production and prices.
C) increase production and lower prices.
D) decrease production and increase prices.
E) do not change production because aggregate demand and potential GDP will adjust.
A
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What is the dumping argument for protection from international trade?
A) Domestic firms must be protected until they gain a comparative advantage. B) Any firm necessary in wartime must be protected. C) Foreign producers selling below cost to drive domestic firms bankrupt must be stopped. D) Domestic jobs must be protected from competition from low-paid foreign workers. E) Foreigners selling products in the economy limit the nation's diversity and stability.
How does a public good differ from a quasi-public good? In your answer give an example of each type of good
What will be an ideal response?
How does the liquidity premium theory explain an upward sloping yield curve during normal economic times?
What will be an ideal response?
The increased labor force participation of married women in the United States is most often explained by
a. declining productivity in agricultural production b. a rise in average household size c. increased education and an increased demand for labor d. the decreased opportunity cost of working in the home e. declining productivity in household production