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Macroeconomics Questions and Answers Rated A+

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What economic rule is generally used in the decision of a regulator to impose a binding price constraint? ✔✔When the benefit to a specific group of people is greater than deadweight loss If the ... short run aggregate supply curve intersects with the aggregate demand curve at a point that is greater than the LRAS curve, which statement below is true? ✔✔Producers are using inventory faster than it can be replaced. If a company was forced to adhere to minimum wage laws, the wage that would represent a binding constraint would be represented by which line in the graph shown here? ✔✔A If the market price of a product happens to be at equilibrium, which of the following will happen next? ✔✔Nothing will happen since the market is already clearing. Assuming ceteris paribus, what principle behind the law of demand is this graph is illustrating? ✔✔Barring special circumstances, an increase in price will always lead to a decrease in quantity. The prevailing market price for smart TVs is $450 and John is willing to pay $600 for a TV. Which graph accurately represents the amount of consumer surplus? ✔✔https://sophialearning.s3.amazonaws.com/ckeditor_assets/85724/content/maq4-2.png?XAmz-Algorithm=AWS4-HMAC-SHA256&X-AmzCredential=AKIAIG2G6MJF4P35TSZQ%2F20210224%2Fus-east- 1%2Fs3%2Faws4_request&X-Amz-Date=20210224T152131Z&X-Amz-Expires=3600&XAmz-SignedHeaders=host&X-AmzSignature=40003e8bf340a739ed202e04974b9da85bb945cd250ae3e35e8a2b92a81f9a3e [Show More]

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