Suppose the domestic supply (QS) and demand (QD) for MP3 players in the United States is represented by the following set of equations:QS = -25 + 10PQD = 875 - 5PIf the United States can import MP3 players from the rest of the world at a per unit price of $50, how many MP3 players will be produced in the United States?
A. 925
B. 525
C. 625
D. 475
Answer: D
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The above figures show the market for oranges. Which figure(s) shows the effect of existing orange growers increasing the size of their orange groves?
A) Figures A and C B) Figures B and D C) Figure A D) Figure D
A lending of a country's savings that occurs when the country has a trade deficit and its citizens purchase real and financial assets from abroad is called a capital inflow
Indicate whether the statement is true or false
If income increases by $10,000 . government purchases are fixed at $1,000 . investment spending is fixed at $2,000 . net exports are fixed at $500, and the marginal propensity to consume is 0.70, by how much does aggregate expenditure increase?
a. $700 b. $2,000 c. $7,000 d. $1,000 e. $1,400
Which one of the following would cause an increase in the demand for hotel rooms in Cacun?
A. a decrease in airfares to Cancun B. an upward movement along the demand curve for stays in Cancun hotel rooms C. a downward movement along the demand curve for stays in Cancum hotel rooms D. an increase in airfares to Cancun