The laws of supply and demand force prices to an equilibrium.
Answer the following statement true (T) or false (F)
True
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The federal budget deficit can be reduced by
A) raising government spending. B) raising transfer payments. C) higher interest rates. D) raising taxes.
If the level of technology rises from 8 to 8.2 in one period, the growth rate of technology is ________
A) 2.5 percent B) 20 percent C) two percent D) 0.2 percent
An increase in demand deposits would ____ M1 and ____ M2. a. increase; increase
b. not change; increase. c. decrease; decrease. d. not change; decrease.
Which of the following is correct?
a. Consumer surplus refers to a situation in which there are more buyers than sellers in a market. b. Producer surplus refers to a situation in which there are more sellers than buyers in a market. c. Total surplus is measured as the area below the demand curve and above the supply curve, up to the equilibrium quantity. d. All of the above are correct.