Given the graph shown, the quantity that would be associated with the price of $4 in a supply table would be:
A. 2.
B. 8.
C. 6.
D. 4.
Answer: C
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During periods of inflation, which function of money is most severely affected?
A) medium of exchange B) unit of account C) means of payment D) store of value
In a liquidity trap, the
A) IS curve is vertical. B) IS curve is horizontal. C) LM curve is vertical. D) LM curve is horizontal.
Suppose the market for autoworkers is initially in equilibrium, but then the automakers purchase capital goods that are a substitute for workers. What happens in the market for autoworkers?
What will be an ideal response?
A deadweight loss of consumer and/or producer surplus occurs when
a. producers fail to maximize profits. b. mutually beneficial transactions cannot be completed. c. consumers do not maximize their utility. d. the price of inputs increases.