When equilibrium is present, if market conditions do not change,
a. the current price will tend to rise in the future, and the current quantity will tend to fall.
b. the current price will tend to fall in the future, and the current quantity will tend to rise.
c. the current price and quantity will tend to persist in the future.
d. the current price will tend to persist in the future, but the current quantity will tend to rise.
C
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An inward shift of the production possibilities frontier represents
A) negative economic growth. B) a rise in the unemployment rate. C) technological improvement. D) positive economic growth.
In the aggregate expenditures model, if aggregate expenditures (AE) are less than GDP, then:
a. inventory is depleted. b. inventory is unchanged. c. employment decreases. d. employment increases.