Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. If the price per cheeseburger is $8, there is an excess
A. supply of 500 cheeseburgers.
B. demand of 300 cheeseburgers.
C. demand of 600 cheeseburgers.
D. supply of 1,100 cheeseburgers.
Answer: A
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Refer to Table 8-13. Real GDP for Vicuna for 2013 using 2015 as the base year equals
A) $4,620. B) $5,100. C) $5,650. D) $5,850.
In a barter system, we would expect to see
A) many different units of money. B) money and goods exchanged for each other. C) wide-spread financial institutions. D) goods traded directly for other goods and services.
Inflation increases the use of money as a store of value
a. True b. False Indicate whether the statement is true or false
Suppose nominal GDP in 2009 was $100 billion and in 2010 it was $260 billion. The general price index in 2009 was 100 and in 2010 it was 180. Between 2009 and 2010 the real GDP rose by approximately:
a) 160 percent. b) 44 percent. c) 37 percent. d) 80 percent.