The difference between the minimum price the producer is willing to accept and the price the producer actually receives for a product is referred to as:
a. market surplus
b. market shortage.
c. consumer surplus.
d. producer surplus.
d
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"Stocks and bonds" are collectively known as
A) securities. B) equities. C) real property. D) shares.
The signals that guide the allocation of resources in a market economy are
a. surpluses and shortages. b. quantities. c. government policies. d. prices.
Frictional unemployment is often thought to explain relatively long spells of unemployment
a. True b. False Indicate whether the statement is true or false
In the short run, with predetermined prices, when output is less than planned aggregate expenditure:
A. planned investment is less than actual investment. B. potential output is less than short run equilibrium output. C. planned investment is greater than actual investment. D. potential output is greater than short run equilibrium output.