The supply curve indicates
a. the price that will be charged for each unit of a good or service
b. how much people are willing to pay for a good or service
c. the minimum price some seller must receive in order to supply each unit of a good or service
d. the value of each unit of a good or service
e. the maximum price some seller can expect to receive from supplying each unit of a good or service
C
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Negative externalities might be reduced through a process of deciding or discovering who has which rights, which might also be described as ________
A) adjudication B) remuneration C) legislation D) substantiation E) identification
The layoff of workers in virtually all industries during the 1982 recession is an example of the classification of workers as
A) voluntarily unemployed. B) structurally unemployed. C) cyclically unemployed. D) frictionally unemployed.
It is likely that a constitutional amendment that required the government always to run a balanced budget would
a. contribute to a more stable level of output. b. mitigate the crowding-out effect. c. eliminate the economy's automatic stabilizers. d. All of the above are correct.
The real rate of interest is
A) the nominal interest rate minus the anticipated rate of inflation. B) the interest rate actually paid explicitly by the borrower. C) the interest rate received by the lender minus the handling charges of the loan. D) the average rate of interest over the last 20 years.