Controversies between Keynesian, monetarist, and supply-side theories focus on the
A. Usefulness of aggregate demand and supply to analyze adjustment of the macro equilibrium.
B. Existence or nonexistence of the aggregate supply curve.
C. Importance of international balances to the economy.
D. Shape and sensitivity of aggregate demand and aggregate supply curves.
Answer: D
Economics
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The figure above shows the market for college education. Left to itself without any government intervention, a competitive market would create a deadweight loss equal to
A) zero. B) the area d. C) the area a + c. D) the area b + c. E) the area b + d.
Economics
If the price of leather (an input for leather shoes) increases, the equilibrium price of leather shoes will increase and the equilibrium quantity of leather shoes will decrease
a. True b. False
Economics