When the supply and demand curves intersect the final lasting price is achieved This is called_____________?

Related Mcqs:

1. If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge ?

   A. The higher price in market A
   B. The higher price in market B
   C. The same Price in both markets
   D. Cannot tell which price will be higher

2. According to supply side economists as tax rates are reduced labour supply should increase. This implies that ?

   A. There is no income effect when tax rates are changed
   B. The income effect of a wage change is greater than the substitution effect of a wage change.
   C. There is no substitution effect when tax rates are changed
   D. The substitution effect of a wage change is greater than the income effect of a wage change

3. When supply and demand are essentially equal the economy is said to be in________________?

   A. a recession
   B. equilibrium
   C. equivalence
   D. abeyance

4. Demand and supply are________________?

   A. market forces
   B. key economic indicators
   C. thesis and antithesis
   D. causes of inflation

5. A demand-side theory that focuses on the role of money to finance aggregate demand is termed__________?

   A. monetarism
   B. Reaganism
   C. the gold standard
   D. cash and carry

6. Supervising and investigating the manner in which the legislative bureaucracy carries out and implements the laws Congress passes is a function called_____________?

   A. control of Congress
   B. Ways and Means
   C. oversight
   D. supervision

7. When a few powerful corporation dominate as industry the condition is called_____________?

   A. a free market for all
   B. oligopoly
   C. government control
   D. none of the above

8. The research method in which the researcher controls one variable and observes and records the results is called_____________?

   A. case study
   B. observation
   C. experiment
   D. social research

9. Total planned OR desired spending in the economy as a whole within a given period is called_____________?

   A. pent-up demand
   B. aggregate demand
   C. elastic demand
   D. excess demand

10. To assign uniform characteristics to an entire group of people without allowing for individual differences is called_____________?

    A. prejudging
    B. characterizing
    C. stereotyping
    D. discriminating