Suppose at a particular level of real gross domestic product (GDP), there are no unintended inventory adjustments. In this context, which of the following is true?
What will be an ideal response?
Real GDP equals the equilibrium level of real GDP demanded.
You might also like to view...
This graph depicts the demand for a normal good.
A shift from B to A in the graph shown might be caused by:
A. a decrease in the good's price.
B. an increase in the good's price.
C. a decrease in the price of a substitute.
D. an increase in the price of a substitute.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.
According to the table below, what is the marginal cost of producing 90 units of output?QFCVC01,0000201,000350501,000700901,0001,0501251,0001,4001451,0001,7501601,0002,100
A. 21.00 B. 5.32 C. 8.75 D. 11.67
When income is $15,000, the amount of income income taxes owed is $2,000; when income increases to $20,000, the amount owed increases to $3,000. The marginal tax rate in this case is
A. 20 percent. B. 15 percent. C. 13.3 percent. D. 25 percent.