This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Macroeconomic equilibrium is best described as a situation in which: a. the slope of the aggregate ... (Read 16 times)

BrownTown3

  • Hero Member
  • *****
  • Posts: 564
on: Jun 30, 2018
Macroeconomic equilibrium is best described as a situation in which:
 a. the slope of the aggregate demand curve equals the slope of the aggregate supply curve.
  b. quantity demanded exceeds quantity supplied.
 c. quantity demanded equals quantity supplied at a unique price level.
 d. quantity supplied exceeds quantity demanded at a unique price level.
 e. quantity supplied equals quantity demanded at a unique price level.

Question 2

Suppose an oil cartel has an agreement to restrict members' production in order to maintain a price of 30 per barrel. A single cartel member may want to cheat and exceed its quota so that it can:
 a. reduce its costs.
  b. charge higher prices.
  c. make demand more inelastic.
  d. earn a bigger profit.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ndhahbi

  • Sr. Member
  • ****
  • Posts: 390
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

d


BrownTown3

  • Member
  • Posts: 564
Reply 2 on: Jun 30, 2018
:D TYSM

scikid

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

The north-facing slope at this site supports a Mediterranean woodland, while the vegetation on the s The north-facing slope at this site supports a Mediterranean woodland, while the vegetation on the s
Comparison of reactions at equilibrium and steady state Comparison of reactions at equilibrium and steady state
The strange situation. The Strange Situation features a series of episodes in which (a) the mother l The strange situation. The Strange Situation features a series of episodes in which (a) the mother l
Cultural Variations in the Strange Situation Across cultures, most toddlers exhibit secure attachme Cultural Variations in the Strange Situation Across cultures, most toddlers exhibit secure attachme
A 60-kg skier starts from rest from the top of a 50-m high slope. If the work done by friction ... A 60-kg skier starts from rest from the top of a 50-m high slope. If the work done by friction ...
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: Introduction to Sleep Apnea

For a complete list of videos, visit our video library