In the long run
A. the price level is independent of the level of output.
B. the level of output is independent of the price level.
C. price and output levels are mutually dependent.
D. the level of output is depends on the price level.
Answer: B
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In the money market, how is the adjustment to equilibrium brought about in the short run and in the long run?
What will be an ideal response?
Which of the following shifts the supply curve for oranges?
A) disastrous weather that destroys about half of this year's orange crop B) a newly discovered increase in the nutritional value of oranges C) an increase in the price of bananas, a substitute in consumption for oranges D) an increase in income for all orange consumers
If the marginal tax rate is equal to the average tax rate as taxable income increases, the tax structure is
A) proportional. B) unfair. C) progressive. D) regressive.
Promises of "a chicken in every pot" and "two cars in every garage" were made by presidential candidate ________.
Fill in the blank(s) with the appropriate word(s).