The market clearing price refers to the:
A. price where quantity demanded and quantity supplied are the same.
B. equilibrium price that quantity supplied is the highest possible.
C. maximum price where all suppliers are willing to sell all their production.
D. minimum price at which items could be sold.
Answer: A
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Many manufacturers sell products labeled as having imperfections at a discount at their factory outlets but do not ship these imperfect goods to regular retail outlets. Why?
What will be an ideal response?
Which of the following is true of Western Europe, Japan, Canada, Mexico, and China taken together?
a. All these countries are classified as high-income countries by the World Bank. b. They are all members of the North American Free Trade Agreement [NAFTA]. c. All these countries are considered developing countries by the World Bank. d. They are collectively the largest trade partners of the U.S. e. They are the five largest exporters of agricultural produce in the world.
Which of the following statements best describes consumer confidence as measured by the consumer confidence index, from just prior to the Great Recession until late 2008.
a. According to the consumer confidence index, consumer confidence averaged around 90 prior to the Great Recession, and then it fell to below 50 in late 2008, which was the lowest it had been since 1980. b. According to the consumer confidence index, consumer confidence averaged around 80 prior to the Great Recession, and then it fell to below 50 in late 2008, which was the lowest it had been since 1980. c. According to the consumer confidence index, consumer confidence averaged around 90 prior to the Great Recession, and then it fell to below 60 in late 2008, which was the lowest it had been since 1980. d. According to the consumer confidence index, consumer confidence averaged around 80 prior to the Great Recession, and then it fell to below 60 in late 2008, which was the lowest it had been since 1980.