The table below shows the weekly demand for hamburger in a market where there are just three buyers. PriceBuyer 1 Qd 1Buyer 2 Qd 2Buyer 3 Qd 3$6746597841510123211516 At a price of $6, the weekly market quantity demanded for hamburger is
What will be an ideal response?
17
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Both the classical and monetarist models assume all of the following except
a. perfectly flexible prices. b. perfectly flexible wages. c. perfect information. d. vertical aggregate supply curve in the long-run.
The president of the United States promises that the nation's economy will simultaneously produce more defense goods without any decreases in the production of other goods. Under which of the following conditions could such a promise be valid?
A) if the United States were producing at a point on its production possibilities curve B) if the United States were producing inside its production possibilities curve C) if the United States were producing to the right of its production possibilities curve D) None of the above; the production possibilities curve must shift to the right.
?Experimental data are easy to obtain in the social sciences.
Answer the following statement true (T) or false (F)
Suppose the Northwestern Bank has excess reserves of $12,000 and checkable deposits of $125,000. If the reserve requirement is 20 percent, what are the bank's actual reserves?
A. $25,000 B. $37,000 C. $44,000 D. $47,000