The market price of output affects
a. the supply of the resources used to produce it
b. the demand for the resources used to produce it
c. the marginal product of the resources used to produce it
d. the marginal resource cost of the resources used to produce it
e. the total cost of the resources used to produce it
B
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In order for currency to be widely used as a medium of exchange, it is sufficient for the government to designate it as legal tender
a. True b. False Indicate whether the statement is true or false
When most consumers and firms reduce spending only because they expect other consumers and firms to reduce spending, and a recession results:
A. a self-correction has occurred. B. an adverse aggregate supply shock has occurred. C. a coordination failure has occurred. D. a real-business downturn has occurred.