In an open economy, a society's consumption possibilities are typically ________ its production possibilities.
A. equal to
B. less than
C. unrelated to
D. greater than
Answer: D
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Suppose demand increases and supply increases. Which of the following will happen?
a. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will decrease. b. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will increase. c. Equilibrium quantity will rise, fall, or stay the same and equilibrium price will increase. d. Equilibrium quantity will rise, fall, or stay the same while equilibrium price will decrease. e. The change in equilibrium price and quantity cannot be determined.
A general formula for the multiplier is
What will be an ideal response?
The merger of Southwest Bell (SBC) and AT&T companies is an example of a
A. cooperative merger. B. vertical merger. C. consolidation merger. D. horizontal merger.
The sum of public and private saving in an economy is equal to
A) Y - C - T. B) T - TR - G. C) Y - C - G. D) I - C - G.