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 40 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
Wow, this really help

epscape

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Situation in a Guy's Life Situation in a Guy's Life
Role-Playing a Situation in Which a Patient Is from Another Culture Role-Playing a Situation in Which a Patient Is from Another Culture
How to find the slope of a line using any two points How to find the slope of a line using any two points
What will be the pH of the solution once equilibrium is established? What will be the pH of the solution once equilibrium is established?
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Derive the following using the increment/delta method and find its slope Derive the following using the increment/delta method and find its slope
Video: Humerus Adduction Animation

For a complete list of videos, visit our video library