Graphically the intersection of the aggregate demand curve and the short-run aggregate supply line determines:
A. short-run equilibrium.
B. long-run equilibrium.
C. potential output.
D. exogenous spending.
Answer: A
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If the labor market is competitive, a monopoly output market will result in
A) a lower wage than that of a competitive output market. B) a higher wage than that of a competitive output market. C) less labor hired than in a competitive output market. D) more labor hired than in a competitive output market.
Who among the following is a discouraged worker?
a. Brian, who has delayed joining his new office by a month b. Regina, who has given up her job search after several failed attempts to find one c. Daniel, who has a job as a ski instructor only during winter d. Roger, who is currently unemployed, enjoys the unemployment benefits and is not too eager to search for a new job
Economists mostly agree that the problem of climate change necessitates government action in the form of market-based incentives such as
What will be an ideal response?
How does a bank make most of its profit on its business?
(A) By paying out less in interest on deposits than it earns in interest on loans. (B) By receiving fees from the government for handling federal and state accounts. (C) By collecting fees on safety deposit boxes, travelers' checks, and certified checks. (D) By collecting fees on credit card purchases.