Define the equilibrium level of output.
What will be an ideal response?
The equilibrium level of output is the level of output whose production will create total income and spending which is just sufficient to purchase that output.
Economics
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When a firm decides to produce more electric cars and conventional gas powered cars, it is most directly answering the ________ part of one of the two big economic questions
A) "how" B) "scarcity" C) "what" D) "for whom"
Economics
If the total amount of demand deposits in the country increases by $12,000 after the Fed purchases $6,000 in bonds, what is the required reserve ratio?
a. 0.4 b. 0.1 c. 0.2 d. 0.5 e. 0.3
Economics