Refer to the table above. What is the market demand for wine when the price is $1?
A) 50 units B) 80 units C) 51 units D) 76 units
D
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Your friend is preparing for this exam and in your practice session makes the following statement: "Instead of attending microeconomics class for two hours, Kiki could have played tennis or watched a movie
Therefore, the opportunity cost of attending class is the tennis and the movie she had to give u
During the twentieth century, the market structure of the U.S. economy has
A) become less competitive. B) remained about the same. C) become more competitive. D) become mostly monopolies.
A horizontal LM curve implies that the expenditure multiplier, when compared with the simple Keynesian expenditure multiplier, is
A) smaller. B) larger. C) equal. D) equal to the inverse of the simple multiplier.
The consumer wants to work because he/she
A) is told to work. B) likes to work. C) likes leisure. D) wants the income.