________ is equal to consumption spending plus planned investment spending plus government purchases plus net exports
A) Planned aggregate expenditure
B) Planned inventory investment
C) Full employment GDP
D) Short-run aggregate supply
A
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Refer to Figure 16-1. What is the consumer surplus received under perfect price discrimination?
A) the area under the demand curve above P1 B) the area under the demand curve above P4 C) the area under the demand curve above P3 D) zero
In the long run, firms in a competitive market
A) shut down because profit goes to zero. B) lose money. C) are not profit maximizing. D) earn zero economic profit.
If there is a temporary increase in the money supply in the Eurozone, ceteris paribus, what is the result for the United States?
a. The money supply in the United States must decrease by the same proportion. b. The U.S. dollar nominal interest rate will increase, as the euro rate is unchanged. c. Long-run expectations shift to expect a stronger euro. d. The dollar appreciates against the euro.
According to the law of demand, when the price of a good falls
A. the quantity of the good supplied will decrease to meet the decreased demand. B. the quantity of the good supplied will increase to meet the increased demand. C. the quantity of the good demanded tends to fall. D. the quantity of the good demanded tends to rise.