Answer the following questions true (T) or false (F)
1. A surplus occurs when the actual selling price is above the market equilibrium price.
2. A competitive market equilibrium is a market equilibrium with many buyers and sellers.
3. In response to a shortage, the market price of a good will rise. As the price rises, the demand will decrease and supply will increase until equilibrium is reached.
1. TRUE
2. TRUE
3. FALSE
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Other things remaining the same, if the quantity of money increases by a given percentage, then in the long run the ________ by the same percentage
A) real interest rate rises B) price level rises C) nominal interest rate falls D) price level falls E) real interest rate falls
Qwerty
A) is the government agency charged with regulating the internet. B) is an example of a network. C) a cable system prior to VHS. D) none of these choices.
A change in the price of important inputs will change the quantity supplied but will not shift the supply curve
a. True b. False Indicate whether the statement is true or false
Write out the expression for the Taylor rule. Use the Taylor rule to explain how a decline in real GDP below potential GDP will affect the Federal Reserve's target for the federal funds rate
What will be an ideal response?