Demand is a schedule that shows
A) a set of possible prices for a good and the quantities of the good that will be purchased at each of those prices.
B) how much income it takes to afford various quantities of a good.
C) the relationship between the cost of producing a good and the price that sellers will charge.
D) how population changes will affect the amount of a good that is needed.
A
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In a market economy, opportunity costs are always synonymous with explicit monetary costs.
Answer the following statement true (T) or false (F)
If policy makers wanted to use both monetary and fiscal policy to stimulate demand and reduce a high rate of unemployment, which of the following would be most appropriate?
a. A larger budget deficit and the purchase of securities in the open market by the Fed b. A government surplus and the sale of securities in the open market by the Fed c. A larger government deficit and an increase in the discount rate d. A larger government surplus and a reduction in the discount rate
A government program that reduces land under cultivation can help farmers by raising prices but hurts consumers
a. True b. False Indicate whether the statement is true or false
Anti-trust regulators are likely to prohibit two firms from merging if
a. the combined firm will undercut competitors with lower prices. b. the combined firm will have a large share of the market. c. there are many other firms in the industry. d. there are sizable synergies to the combination.