Which of the following is likely to result in a larger equilibrium quantity exchanged?
a. An increase in both demand and supply
b. A decrease in both demand and supply.
c. An increase in demand and a decrease in supply.
d. A decrease in demand and an increase in supply.
a
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The consumer price index measures the cost of:
A. a changing basket of goods and services. B. all goods and services purchased by consumers. C. a fixed basket of goods and services. D. goods and services required to live above the poverty level.
Wage differentials may result from all the following except:
A. differences in the nonmonetary aspects of various occupations. B. differences in the education and skills of workers. C. geographic and sociological immobilities of workers. D. the tendency of qualified workers to move from lower pay jobs to higher pay jobs.
The degree to which an asset can be acquired or disposed of without much loss of nominal value or transaction costs is known as
A. liquidity. B. fiat money. C. fiducia. D. credit.
If European economies experience a period of sustained recession and the United States does not, what will happen in the United States?
A. An increase in aggregate supply B. A decrease in aggregate supply C. A decrease in aggregate demand D. An increase in aggregate demand