The supply curve shows
a. the same basic information as the demand curve.
b. who will have an opportunity to produce or purchase an item.
c. the quantity produced as a function of the price.
d. plots of what quantities have been sold over the past few weeks or months.
c
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An increase in the supply of money would decrease the interest rate and increase aggregate demand, other things equal
a. True b. False Indicate whether the statement is true or false
A common good:
a. is rivalrous in sonsuption and excludable b. is nonrivalrous in consumption and nonexcludable c. will tend to be over consumed d. both a. and c.
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Economists have argued that rent control is "the best way to destroy a city, other than bombing." Why would economists say this?
a. They anticipate that low rents will cause low-income people to move into the city, reducing the quality of life for other people. b. They anticipate that rent control will benefit landlords at the expense of tenants, increasing inequality in the city. c. They anticipate that rent controls will cause a construction boom, which will make the city crowded and more polluted. d. They anticipate that rent control will eliminate the incentive to maintain buildings, leading to a deterioration of the city.