The aggregate demand for good X is Q = 20 - P, and the market price is P = $8. What is the maximum amount that consumers are willing to pay for the quantity demanded at this price?
A) $72
B) $96
C) $144
D) $168
D
You might also like to view...
In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Equilibrium output in this economy equals
A. $1,160. B. $1,440. C. $1,000. D. $1,280.
If marginal propensity to save equals 0.50, then the marginal propensity to consume is:
A) 1.25. B) 0.50. C) 0.70. D) 1.00.
In the financial crisis in 2008, the Federal government created the ________, to purchase financial assets that were thought to be temporarily undervalued, preventing further financial panic
A) Federal Home Loan Board. B) Troubled Asset Relief Program. C) Federal Deposit Insurance Corporation. D) Bank Insurance Fund.
One way to estimate GDP is to:
A. measure the total expenditure of an economy. B. add up all the money people spend buying final and intermediate goods and services. C. add together the market value of only final services sold in the economy. D. add together the market value of only final goods sold in the economy and not services.