The price-misperceptions model differs from the equilibrium business cycle model in that households
a. no longer serve as providers of capital services.
b. find that market-clearing prices move to equilibrium slowly.
c. sometimes misinterpret changes in nominal prices as changes in real prices.
d. typically face disequilibrium because prices fail to clear markets.
Answer: c. sometimes misinterpret changes in nominal prices as changes in real prices.
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Among the three major goals defined in the Clean Water Act are the
a. fishable-boatable goal b. use designation goal c. no toxics in toxic amounts goal d. no ocean dumping goal
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What will be an ideal response?
The inclusion of external costs in the decision making process determining equilibrium price and quantity leads to
A. higher priced items and increased quantity. B. higher priced items and a decline in quantity. C. lower priced items and increased quantity. D. lower priced items and a decline in quantity.
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. In this market there will be an excess supply of 1,000 cheeseburgers at a price of
A. $5. B. $6. C. $7. D. $9.