Recovery sets in after point
A. V.
B. W.
C. X.
D. Y.
C. X.
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Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
Refer to Figure 5-6. What is the deadweight loss resulting from producing at the market equilibrium?
A) B + C B) F C) E + C D) C
When a person does not have to pay the full costs for using a scarce resource, then
A) the use of the resource is not affected since society pays for the resource. B) more of the resource will be used. C) the internal costs of using the resource are too high. D) the social costs of the resource are less than they would be if the "correct" amount of the resource were being used.
An expansionary monetary policy eventually leads to a decrease in business investment spending and consumer borrowing
a. True b. False Indicate whether the statement is true or false