Figure 10-1
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If the price level in Figure 10-1 were 110,
A. inventories would be accumulating.
B. firms would have to lower their prices.
C. aggregate quantity demanded would equal aggregate quantity supplied.
D. shortages of goods would exist.
Answer: C
Economics
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Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, total consumer and producer surplus will be
A) $1.50. B) $300. C) $450. D) $500. E) $600.
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In most cases, the higher is the quality of the collateral for a loan is
A) the higher is the interest rate. B) the lower is the interest rate. C) the riskier is the loan. D) the greater is the handling charge for the loan.
Economics