Multiple Choice
If aggregate quantity supplied is greater than aggregate quantity demanded at a particular price level,then a
A) shortage exists and consumers will bid the price level up.
B) surplus exists and consumers will bid the price level up.
C) surplus exists and the price level will decline.
D) shortage exists and the price level will decline.
E) c and d
Correct Answer:
Verified
Correct Answer:
Verified
Q63: The short-run aggregate supply curve shows the
Q64: A depreciation of the U.S.dollar against foreign
Q65: When foreign real national income rises,domestic Real
Q66: As the price level rises,ceteris paribus,people holding
Q67: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q69: Foreign real national income rises.This raises U.S._
Q70: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q71: Suppose the price level is rising and
Q72: The nominal wage is $40 an hour
Q73: Suppose the following: (1)the wage rate falls,(2)business