At any point below the current LM curve there is an
A) excess demand for money.
B) excess supply of money.
C) excess demand for goods.
D) excess supply of goods.
A
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If a firm is achieving economic efficiency it must also be achieving technological efficiency
Indicate whether the statement is true or false
Refer to Figure 4-3. If the market price is $3.00, what is Kendra's consumer surplus?
A) $6.50 B) $5.50 C) $2.50 D) $0.50
Marginal revenue, average revenue, and price are all equal for a monopolist
a. True b. False
Why is the value of leisure listed as a shortcoming in the measurement of GDP?
A. When households take time off for leisure, the activity is not counted in GDP. However, taking time off for leisure makes households better off. B. Because GDP increases when households take more leisure. C. Because leisure increases happiness only when we take a vacation with it. D. Because households really want to work every day, and leisure gets in the way of work.