Suppliers recognize there is a shortage in the market for their product when they notice that
a. the quantity supplied exceeds the quantity demanded
b. the quantity demanded is falling
c. inventories are falling
d. production exceeds new orders for the product
e. government economists announce a shortage exists
C
Economics
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If a firm decreases output when MR < MC, then:
a. profit will equal zero. b. profit will increase. c. profit will decrease. d. profit will remain the same. e. the firm is minimizing losses.
Economics
The fallacy in the strict crowding-out argument comes from supposing that
a. the Federal Reserve always accommodates the U.S. Treasury in its financing of the deficit. b. corporations always outbid small businesses for government contracts. c. the economy's flow of saving is fixed. d. investors will spend more when G increases.
Economics