The wage for a particular occupation will be relatively low if supply is small relative to demand.
Answer the following statement true (T) or false (F)
False
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The consumer acquires a consumer surplus on a good if the marginal benefit is
A) equal to the price. B) greater than the price. C) less than the price. D) zero. E) less than the marginal cost.
An increase in the opportunity cost of holding money creates a ________ the money demand curve and an increase in real GDP creates a ________ the money demand curve
A) leftward shift of; movement down along B) rightward shift of; movement down along C) movement up along; leftward shift of D) movement up along; rightward shift of
?Exhibit 16-4 Macro AD/AS Model
As shown in Exhibit 16A-4, assume the marginal propensity to consume equals 0.80. Using discretionary fiscal policy, federal government spending should be _________ in order to restore the economy from E1to full employment.
A. increased by $1.6 trillion B. decreased by $1.6 trillion C. increased by $.20 trillion D. increased by $.20 trillion
The "paired observation" of (-10, -6 ) means
A) x = -10, y = -6. B) x = -6, y = -10. C) that the distance between the two points will be 16. D) the origin is at -10 and -6.