In the above figure, the equilibrium interest rate is ________ and the equilibrium quantity of money is ________ trillion
A) 4 percent; $1.2
B) 8 percent; $1.2
C) 4 percent; $0.6
D) 8 percent; $0.6
E) 0 percent; $1.2
C
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One of the primary aims of taxation is:
A. to increase government revenues. B. to reduce the equilibrium quantity. C. to alter the incentives of market participants. D. All of these are primary goals of taxation.
A group of buyers and sellers with the potential to trade with each other is known as a(n)
a. trading bloc b. cartel c. market d. industry e. sector
If the price elasticity of supply of doodads equals 0.50 and the price rises by 3 percent, then the quantity supplied of doodads will rise by ____
a. 0.50 percent. b. 1.50 percent. c. 6.00 percent. d. 15 percent.
Households
A) purchase final goods and services in the factor market.
B) purchase final goods and services in the product market.
C) purchase resources in the product market.
D) purchase resources in the factor market.