PriceQuantity DemandedQuantity Supplied$02000$115040$210080$350120$40160 Refer to the table. In this market, the equilibrium price
A. is equal to exactly $2.
B. does not exist.
C. is between $2 and $3.
D. is greater than $4.
Answer: C
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A capital outflow occurs when:
A. money saved domestically is invested in another country. B. money saved in another country finances domestic investment. C. there is a negative difference between capital inflows and capital outflows for a country. D. there is a positive difference between capital inflows and capital outflows of a country.
If transfer payments increase then we would most likely conclude what about government spending as a result of this increase?
A. We cannot reasonably conclude anything about government spending. B. Since transfer payments have gone up this has caused government spending to decrease. C. Since transfer payments have gone up this has caused government spending to increase. D. Government spending would not change if transfer payments increase.
The main reason that firms adjust their output when the price level changes is that
a. uncertainty causes a drop in output. b. taxes cause a supply-side reaction. c. their profit margins change. d. increased risks lead to a change in output. e. All of the above are correct.
The total amount of output producers are willing and able to produce at alternative price levels in a given time period is known as:
A. Aggregate demand. B. Aggregate supply. C. Real GDP. D. Macro equilibrium.