Refer to Figure 3-5. At a price of $5, the quantity sold
A) is 2 units. B) is 4 units.
C) is 6 units. D) cannot be determined.
A
Economics
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A recession shows
A) supply always equals demand. B) supply never equals demand. C) thousands of businesspeople have misread market signals. D) real GDP must be lower than nominal GDP. E) not enough households are using their credit cards.
Economics
An increase in nominal gross domestic product necessarily entails an increase in
A) both real output and the price level. B) either real output or the price level (or both). C) real output and employment. D) the price level and employment.
Economics