Macroeconomic equilibrium occurs when
A. the quantity of output demanded equals the quantity of output supplied.
B. the price level is increasing.
C. the price level is decreasing.
D. there is very low cyclical unemployment.
A. the quantity of output demanded equals the quantity of output supplied.
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What will be the principal and most immediate effect on the supply or demand for raw cotton grown in the United States if new EPA regulation, which prohibit the use of certain pesticides and herbicides widely used by cotton farmers, are introduced?
A) Decrease in demand B) Decrease in supply C) Increase in demand D) Increase in supply
A supply curve shows the relationship between:
A) output and the total cost of production. B) output and prices. C) output and consumer income. D) output and revenue.