Refer to the above figure. A shortage will exist when
A) the price is between $0 and $6.
B) the price equals $6.
C) the price equals $10.
D) quantity demanded equals 3.
A
Economics
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The President proposes a reduction of personal income marginal tax rates in the United States. When marginal tax rates are reduced, there is
A) a decrease in the magnitude of the expenditure multiplier. B) an increase in the magnitude of the expenditure multiplier. C) a decrease in the marginal propensity to consume. D) no change in the slope of the AE line. E) an increase in the marginal propensity to consume.
Economics
Is demand more elastic in the short run or the long run? Why?
What will be an ideal response?
Economics