Short-run macroeconomic equilibrium occurs when
A) structural and frictional unemployment equal zero.
B) the equilibrium lies on the long-run aggregate supply curve.
C) aggregate demand and short-run aggregate supply intersect.
D) A and B
C
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How does the U.S. economy rank in size?
A. First in economic output B. Second in economic output C. Third in economic output D. Fourth in economic output E. Fifth in economic output
Holding other things constant, an appreciation of the US Dollar to the Chinese Yuan might cause the demand for Yuan to _____________ and the supply for Yuan to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease
A problem with currency boards is that the central bank loses:
A. influence over interest rates. B. a flexible exchange rate is always preferred to a pegged exchange rate. C. control over the government budget. D. the ability to supervise banks.
Refer to the two diagrams for individual firms. Figure 1 pertains to:
A. an imperfectly competitive firm.
B. a purely competitive firm.
C. an oligopolist.
D. a pure monopolist.