An application of behavioral economics is:
A. price inconsistency.
B. rational cost-price decision making.
C. forgetting the fungibility of money.
D. All of these are applications of behavioral economics.
C. forgetting the fungibility of money.
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Equilibrium in the money market occurs when
A) the quantity of money demanded is less than the quantity of money supplied. B) the interest rate equals the money supply. C) the quantity of money demanded is more than the quantity of money supplied. D) the quantity of money demanded equals the quantity of money supplied.
The output level that occurs in any market that is in equilibrium:
a. is the quantity where the supply curve intersects the y-axis. b. is the quantity where the demand curve intersects the x-axis. c. is the quantity at an output level where buyers will pay more than suppliers require. d. is an output level where buyers will not pay as much as suppliers require. e. is the quantity where the demand and supply curves intersect each other.