Households are economic units formed by profit-seeking entrepreneurs who employ resources to produce goods and services for sale
Indicate whether the statement is true or false
false
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Let D= demand, S = supply, P = equilibrium price, and Q= equilibrium quantity. What happens in the market for tropical hardwood trees if the governments restrict the amount of forest lands that can be logged?
A) D no change, S decreases, P increases, Q increases. B) D decreases, S no change, P and Q decrease. C) S decreases, D no change, P increases, Q decreases. D) D and S decrease, P and Q increase.
A decrease in wealth would shift the:
A) aggregate demand curve rightward. B) aggregate demand curve leftward. C) aggregate supply curve rightward. D) aggregate supply curve leftward.
What raises consumer expenditures?
What will be an ideal response?
When an expansionary gap exists, actual output ________ potential output and the rate of inflation will tend to ________.
A. is less than; increase B. exceeds; increase C. is less than; decrease D. exceeds; decrease