Which of the following is the correct way to describe equilibrium in a market?
a. At equilibrium, demand equals supply
b. At equilibrium, quantity demanded equals quantity supplied.
c. At equilibrium, market forces no longer apply.
d. At equilibrium, the "fairest" price for output is achieved.
b
Economics
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Opponents of active stabilization policy
a. generally don't believe, even in theory, that fiscal policy can stabilize the economy. b. generally agree that fiscal policy has no impact in the long run. c. believe some effects of monetary policy may be long-lived. d. think the Fed should simply try to fine tune the economy.
Economics
A minimum price, set by the government, that sellers may charge for a good is known as
A. a price rationing mechanism. B. a subsidy. C. a price ceiling. D. a price floor.
Economics