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Author Question: Macroeconomic equilibrium is best described as a situation in which: a. the slope of the aggregate ... (Read 37 times)

BrownTown3

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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.


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ndhahbi

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Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

d


BrownTown3

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

raili21

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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