Along the IS curve, which of the following markets are in equilibrium?
A) the money and forex markets
B) the goods and forex markets
C) the goods and money markets
D) the goods, money, and forex markets
Ans: B) the goods and forex markets
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In a market in which firms operate in monopolistic competition,
A) the HHI for a single firm exceeds 2500. B) firms compete on price, quality and marketing. C) in the long run firms produce at their efficient scale. D) in the long run firms are not able to charge a marku
Skateboards International of Mavericks Beach, California, was able to sell 20,000 skateboards at a price of $60 last year. This year it is able to sell only 12,000 of the same skateboards at a price of $60. Evidently, Skateboard International has experienced a(n):
a. increase in quantity supplied. b. increase in demand c. increase in supply. d. decrease in demand.
Price indexes are necessary for turning a time series measured in real value into nominal value.
Answer the following statement true (T) or false (F)
The incentive to work is an ingredient of the negative income tax because:
A. if families do work, they will be eliminated from the program. B. if families don't work, they will be eliminated from the program. C. the more income earned in the workplace, the higher the family's after-tax income. D. the more income earned in the workplace, the higher the payment from the government.