A rational person maximizes
A) risk.
B) return.
C) expected utility.
D) return variance.
C
Economics
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The table above gives the aggregate demand and aggregate supply schedules in Lotus Land. The short-run macroeconomic equilibrium is a price level of ________ and a real GDP of ________
A) 90; $400 B) 100; $400 C) 110; $500 D) 120; $400
Economics
Refer to the accompanying figure.
Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. B; C B. D; C C. D; B D. A; B
Economics