The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$5854464334322221If seller 3 exits the market (goes out of business), then the weekly market quantity of hamburgers supplied at a price of $4 will be
A. 13
B. 10
C. 6
D. 9
Answer: B
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Indicate whether the statement is true or false
The major assets on a bank's balance sheet are its
A) checking and savings account deposits. B) loans, and checking and savings account deposits. C) reserves, loans, and checking account deposits. D) reserves, loans, and holdings of securities. E) reserves, checking and savings account deposits.
Suppose the economy is in a recessionary gap. If government expenditures are currently $1.4 trillion and tax revenues are currently $1 trillion, the (total) budget deficit is _____________. Assume that economists estimate that if the economy were operating at full employment, government expenditures would be $1.2 trillion and tax revenues would be $1.1 trillion. The structural deficit is
_________________ and the cyclical deficit is _______________. A) $2.4 trillion; $2.2 trillion; $200 billion B) $400 billion; $300 billion; $100 billion C) $400 billion; $100 billion; $300 billion D) $300 billion; $100 billion; $400 billion
In the circular flow diagram, money income and revenue ______.
a. are flowing in the same direction
b. form a hub that other items flow around
c. are both elements of the input market
d. represent forms of capital