Refer to the figures. Which figure(s) represent(s) a situation where prices are flexible?
A. A only.
B. B only.
C. Both A and B.
D. Neither A nor B.
A. A only.
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The annual cost of producing the entire output of goods and services in the economy
A) includes durable goods but excludes nondurable goods. B) is total income. C) can be calculated entirely on the basis of financial transactions. D) includes financial transactions.
Describe the difference between a primary credit discount rate and the secondary credit discount rate, including who can borrow at which rate and how such lending is managed by the Fed
What will be an ideal response?
Use the above table. If the level of production was determined by the market, it would be
A) 4. B) 5. C) 6. D) 7.
Government expenditures increase. What happens to the price level and output? Explain how the change in the price level and output effect the inflation rate and the unemployment rate