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 39 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

nathang24

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

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
Role-Playing a Situation in Which a Patient Is Frightened, Angry, or Anxious Role-Playing a Situation in Which a Patient Is Frightened, Angry, or Anxious
In the box on upward social mobility on page 82, we discussed how Latinos face a similar situation. ... In the box on upward social mobility on page 82, we discussed how Latinos face a similar situation. ...
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ... The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
Write the acidic equilibrium equation for HC₆H₅O. Write the acidic equilibrium equation for HC₆H₅O.
Video: Sex-Linked Traits! How are eye colors inherited in fruit flies?

For a complete list of videos, visit our video library