General Equilibrium assumptions are the same assumptions we used in a ___________________
Fill in the blank(s) with the appropriate word(s).
Answer: competitive market
You might also like to view...
If the economy is producing at point D, the opportunity cost of shifting resources from consumer goods to gain 6 capital goods is _______ consumer goods.
A decrease in government spending will cause a(n) ________.
A. decrease in aggregate demand B. increase in aggregate demand C. decrease in the quantity of real output demanded D. increase in the quantity of real output demanded
In the labor market, an increase in labor productivity ________ the real wage rate and ________ the level of employment
A) raises; increases B) raises; decreases C) lowers; increases D) lowers; decreases
If there is a current account surplus, then there is a financial account deficit
Indicate whether the statement is true or false