Macroeconomic equilibrium is always good, because:
a. Actually, macroeconomic equilibrium can be either good or bad. It is not always good.
b. Because it is the only place where actual demand equals actual supply.
c. Because it is the only place where planned demand equals planned supply.
d. None of the above.
e. It gives the nation a breather and allows it to catch up with itself economically.
.A
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Refer to the figure above. Which of the following is likely to happen if a price control below the equilibrium price is imposed?
A) Quantity supplied will exceed quantity demanded. B) Quantity demanded will exceed quantity supplied. C) Consumer surplus will decrease. D) Producer surplus will increase.
How many British pounds would it cost to buy a pair of American designer jeans costing $45 if the exchange rate is 1.50 dollars per British pound?
A) 10 British pounds B) 20 British pounds C) 30 British pounds D) 35 British pounds E) 25 British pounds
List and describe three of the five different lags that can occur which may impede the effectiveness of the use of fiscal policy
It is estimated that a 10 percent decline in income will reduce cigarette smoking by 1.4 percent. From this information one can conclude that cigarettes are most likely:
A. a necessity. B. a large portion of one's budget. C. a luxury. D. an inferior good.