When the supply and/or demand curve shift, the new market clearing price is
A) reached instantaneously.
B) reached only after the government intervenes in the market.
C) reached after some period of adjustment.
D) never reached.
Answer: C
Economics
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Changes in government purchases affect aggregate demand only indirectly through consumption spending
Indicate whether the statement is true or false
Economics
All of the following are economic functions of the government EXCEPT
A) providing a legal system. B) determining the wage rate for most jobs. C) promoting competition in the market. D) providing public goods.
Economics