Refer to the accompanying figures. If the price of soda is $1.25 per can, then the quantity of soda demanded in the market each month is: 
A. 30.
B. 10.
C. 0.
D. 40.
Answer: C
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If aggregate demand increases, thereby leading to an increase in real GDP and inflation, there is
A) a leftward shift in the short-run Phillips curve. B) a movement downward along the short-run Phillips curve. C) a movement upward along the short-run Phillips curve. D) a rightward shift in the short-run Phillips curve. E) neither a movement along nor a shift in the short-run Phillips curve.
If the Fed buys securities worth $10 million, then
A) bank reserves will increase by $10 million. B) bank reserves will decrease by $10 million. C) currency in circulation will increase by $10 million. D) bank holdings of securities increase by $10 million.
When the MPC gets smaller, the spending multiplier:
a. gets larger. b. gets smaller. c. stays the same. d. gets smaller at low real GDP, and larger at high real GDP. e. gets larger at low real GDP, and smaller at high real GDP.
Economic choice and competitive behavior are the result of
a. scarcity. b. poverty. c. public ownership of resources. d. private ownership of resources.