In the figure above, a price of $35 per dozen roses results in
A) a surplus.
B) upward pressure on the price of roses.
C) equilibrium.
D) a shortage.
E) an eventual rightward shift of the demand curve and/or leftward shift of the supply curve.
A
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If the natural rate of unemployment equals 4 percent and the actual rate of unemployment equals 6 percent, then cyclical unemployment equals:
A. -2 percent. B. 2 percent. C. 10 percent. D. -1 percent.
A consumer is said to be indifferent between two consumption bundles
A) when the consumer doesn't care about his or her consumption bundle. B) when the two bundles provide equal amounts of utility. C) when the consumer chooses the bundles equally often. D) when the consumer is indecisive.
Refer to Scenario 17.2. If the threshold educational level y* is set at 45,
A) only individuals in Group K will attain it. B) only individuals in Group M will attain it. C) individuals in both groups will attain it. D) no individuals will attain it. E) some fraction of individuals in each group will attain it.
Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the firm is making an accounting profit of $3000 . What is the firm's total costs?
a. $10,000 b. $11,000 c. $12,000 d. $13,000