When all markets in the economy are simultaneously in equilibrium, we say
A) markets are complete.
B) markets are perfect.
C) there is disequilibrium.
D) there is general equilibrium.
D
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Today, the average U.S. tariff is 4.6 percent of the value of imported goods, which is very low by historical standards
Indicate whether the statement is true or false
Everything else held constant, a decline in interest rates will cause spending on housing to
A) fall. B) remain unchanged. C) either rise, fall, or remain the same. D) rise.
All other things being equal, a greater supply of scientists and engineers will increase the level of technology
a. True b. False Indicate whether the statement is true or false
If the price of inputs rises when a nation is in the intermediate range:
a. Real GDP rises and average price level rises. b. Real GDP rises and average price level falls. c. Real GDP falls and average price level rises. d. Real GDP rises and real GDP remains the same. e. Real GDP remains the same and average price level falls.