If the price level in the current period is higher than what buyers and sellers anticipated,
a. profit margins will be unattractive and firms will expand output.
b. profit margins will be unattractive and firms will reduce output.
c. profit margins will be attractive and firms will expand output.
d. profit margins will be attractive and firms will reduce output.
C
Economics
You might also like to view...
Refer to Table 22-2. Calculate the GDP per capita for each country in the table. Which country has the highest standard of living? Why?
What will be an ideal response?
Economics
Refer to Figure 11.1. Assume the economy is in equilibrium at 1 = 0. Other things equal, a negative demand shock such as the financial crisis of 2007-2009 would result in a movement from point ________ to point ________
A) A; B B) B; A C) A; C D) A; D
Economics