The quantity at which quantity demanded and quantity supplied are equal for a certain price level is known as
a. equilibrium price.
b. equilibrium quantity.
c. equilibrium rate.
d. equilibrium level.
b. equilibrium quantity.
Economics
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Use the above table. The MPC is
A) 0.09. B) 0.20. C) 0.80. D) 0.91.
Economics
If the Federal Reserve chooses to fight high unemployment with expansionary monetary policy and firms and consumers expect this policy to increase inflation, which of the following would you expect to see?
A) an upward shift of the short-run Phillips curve B) a downward shift of the short-run Phillips curve C) a decrease in the long-run aggregate supply curve D) Both B and C are correct answers.
Economics