Consumer equilibrium requires that the marginal utility per dollar spent be unequal for all goods
a. True
b. False
Indicate whether the statement is true or false
False
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The market for wheat is an example of
A) a monopoly market. B) an oligopolistic market. C) a perfectly competitive market. D) a monopolistically competitive market.
The most volatile part of wealth is:
a. transfer payments b. bonds c. the stockmarket d. savings accounts
If foreign interest rates are high relative to those in the U.S. demand for dollars will:
A. increase as investors sell their currency to buy dollars for investment. B. decrease as investors sell their dollars to buy foreign currency for investment abroad. C. increase as investors sell their dollars to buy foreign currency for investment. D. decrease as investors sell their currency to buy dollars for investment.
When the price level rises from 110 to 115, the aggregate level of GDP supplied rises from $80 billion to $120 billion. This ________ relationship represents the ________ relationship between the quantity of real GDP firms are willing to supply and the
price level. A) negative; short-run B) positive; short-run C) negative; long-run D) positive; long-run