An increase in demand, all other things unchanged, will result in ________ in equilibrium price and ________ in equilibrium quantity.
Fill in the blank(s) with the appropriate word(s).
an increase; an increase
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"The aggregate demand multiplier results in the aggregate demand curve shifting by more than any given initial change in expenditure." Is the previous statement correct or incorrect?
What will be an ideal response?
The base for the purchasing power parity adjustment of the GNI is the cost of living in the United States.
a. true b. false
If the economy were producing at point D and moved to point C the opportunity cost in terms of lost production of outboard motors would be
A. 2 units of outboard motors.
B. 4 units of outboard motors.
C. 12 units of outboard motors.
D. 11 units of robots.
Inoculations of children against infectious diseases are
A) an example of an external benefit. B) an example of an external cost. C) dangerous for society. D) an example of a public good.