When the equilibrium price of a product is present
a. neither consumers nor producers will benefit from the exchanges.
b. the value of the products to the consumers will exceed the costs of the resources required for their production.
c. the consumers will benefit from the exchanges, but the producers will experience losses.
d. the producers will profit from the exchanges at the expense of consumers.
b. the value of the products to the consumers will exceed the costs of the resources required for their production.
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How do fluctuations in aggregate demand and short-run aggregate supply bring fluctuations in real GDP around potential GDP?
What will be an ideal response?
Because of the free-rider problem,
a. competitive markets will tend to undersupply public goods. b. the federal government spends too much on national defense. c. fireworks displays have become increasingly dangerous. d. poverty has increased.
As the level of real interest rates rise, the amount of new investment will rise also.
Answer the following statement true (T) or false (F)
What are the five economic activities?
(A) Producing, exchanging, consuming, saving, and investing. (B) Developing, exchanging, purchasing, saving, and investing. (C) Manufacturing, trading, consuming, saving, and investing. (D) Farming, trading, purchasing, saving, and investing.