Refer to the accompanying figure. The equilibrium price is ________, and the equilibrium quantity is ________.
A. $25; 20
B. $25; 5
C. $30; 15
D. $35; 20
Answer: D
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In the short run, an increase in real GDP will
a. increase unit costs and increase the price level b. increase unit costs and decrease the price level c. decrease unit costs and decrease the price level d. decrease unit costs and increase the price level e. have no effect on unit costs or the price level
During the last two or three decades, the educational and career choices of women have become
a. more like those of men, and the earnings of women have declined relative to those of men. b. more like those of men, and the earnings of women have increased relative to those of men. c. less like those of men, and the earnings of women have increased relative to those of men. d. less like those of men, and the earnings of women have declined relative to those of men.
Two variables that have a positive correlation move in the same direction
a. True b. False Indicate whether the statement is true or false
Transfer payments:
A. involve programs such as Social Security and welfare. B. do not show up in GDP. C. are payments from government accounts to individuals for programs that do not involve a purchase of goods or services. D. All of these are true.