A surplus will occur whenever:
a. The supply curve is upward sloping
b. supply equals demand
c. Price is set above the equilibrium price
d. Price is set below the equilibrium price
c. Price is set above the equilibrium price
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The "stagflation" of the 1970s ________ Keynesian macroeconomics until the Keynesians started to build the consequences of changing inflationary expectations and ________ shocks into their models
A) reinforced the dominance, supply B) reinforced the dominance, demand C) deepened the eclipse, supply D) deepened the eclipse, demand
Which of these is assumed to be constant along an aggregate supply curve?
a. The price level in an economy b. The exchange rate between the domestic and a foreign currency c. The state of technology used in production d. The unemployment rate e. The real GDP
Suppose a certain country imposes a tariff on a good. Which of the following results of the tariff is possible?
a. Consumer surplus decreases by $100; producer surplus increases by $100; and government revenue from the tariff amounts to $50. b. Consumer surplus decreases by $200; producer surplus increases by $100; and government revenue from the tariff amounts to $50. c. Consumer surplus increases by $100; producer surplus decreases by $200; and government revenue from the tariff amounts to $50. d. Consumer surplus decreases by $50; producer surplus increases by $200; and government revenue from the tariff amounts to $150.
Suppose a German bank purchases a U.S. Treasury bond. This transaction would be recorded in the:
A. capital account. B. current account. C. goods trade balance. D. unilateral transfers.