Based on the data in the table above, the economy will be in short-run equilibrium at a price level of
A) 90.
B) 110.
C) 100.
D) 120.
D
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Refer to the figure above. What is the quantity supplied in the market when the market is perfectly competitive?
A) 30 units B) 45 units C) 60 units D) 90 units
The increase in world oil prices in 1990 initially
a. caused the AS curve to shift upward as wage rates quickly adjusted b. increased the level of GDP associated with high price levels c. shifted the aggregate expenditure line upward d. caused the AS curve to shift upward due to higher costs per unit of output e. caused the AD curve to shift leftward due to an increasing interest rate
Which of the following is not true when the price of a good or service falls?
a. Buyers who were already buying the good or service are better off. b. Some new buyers, who are now willing to buy, enter the market. c. The total consumer surplus in the market increases. d. The total value of purchases before and after the price change is the same.
If there is a 20 percentage point drop in the maximum capital-gains tax rate, _____percentage points of the increase in the share of the 1 percent can be attributed to the drop in the capital-gains tax rate.
A. 4 B. 36 C. 8 D. 20