Multiple Choice
General equilibrium refers to:
A) an equilibrium where there are no taxes.
B) an equilibrium where prices are not changing over time.
C) an equilibrium where no specific good is referred to.
D) an equilibrium where all markets are in equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
Q70: International trade is one field where general
Q71: The production possibilities frontier is concave to
Q72: All points on the production possibility frontier
Q73: A contract curve:<br>A)represents the locus of points
Q74: An economy's production mix is efficient if:<br>A)MRTS
Q76: If the invisible hand of the market
Q77: A monopoly in a general equilibrium model
Q78: In an exchange economy with production, which
Q79: Imagine a simple economy composed of 2
Q80: The endowment point in an Edgeworth box:<br>A)shows