At any point below the current IS curve, there is an
A) excess demand for goods.
B) excess supply of goods.
C) excess demand for money.
D) excess supply of money.
A
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The amount of a tax paid by the buyers will be larger the
A) more elastic the demand and the more inelastic the supply. B) more inelastic the demand and the more elastic the supply. C) more inelastic are both the supply and demand. D) more elastic are both the supply and demand.
The long-run aggregate supply curve is vertical
Indicate whether the statement is true or false
The economy is considered to be at full employment when
a. structural unemployment is zero b. frictional plus structural unemployment is less than the natural rate c. the leading economic indicators are unchanged for two consecutive quarters d. the actual rate of unemployment equals the natural rate e. the unemployment rate is zero
In the presence of negative externalities, ________ is produced and in the presence of positive externalities, ________ is produced.
A. too much of the good; the right amount of the good B. the right amount of the good; too little of the good C. too little of the good; too much of the good D. too much of the good; too little of the good