At any point on the LM curve
a. there is labor market equilibrium.
b. money supply equals money demand.
c. equilibrium output equals potential output.
d. both commodity and money market are necessary for equilibrium.
e. both b and c.
B
Economics
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If there are 1,000 identical rice farmers who are each willing to supply 200 bushels of rice at $2 per bushel, what price and quantity combination is a point on the market supply curve for rice?
A) $2 and 200 bushels B) $2 and 200,000 bushels C) $2,000 and 200,000 bushels D) $2,000 and 1,000 bushels E) $2 and 1,000 farmers
Economics
One of the main tools used by economists to measure the actual distribution of income is
a. the Lorenz curve b. the Golden Rule c. the MR = MC rule d. the MRP = MRC rule e. the capital / labor ratio
Economics