Refer to Figure 3-5. At a price of $20, the quantity sold
A) is 0 units. B) is 4 units.
C) is 8 units. D) cannot be determined.
A
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Suppose the Fed bought $150 million of U.S. securities from the public. The reserve requirement is 20 percent, and there are no initial excess reserves. A few weeks later, if the public's holdings of currency are constant and the banks have loaned all excess reserves, the money supply will increase by
a. $150 million. b. $300 million. c. $600 million. d. $750 million.
What is the average cost per unit for producing 3 units?
a. 200 b. 260 c. 70 d. 110
Define the following terms and explain their importance to the study of macroeconomics:
a. exchange rate b. depreciation c. devaluation d. fixed exchange rates
Refer to the accompanying figure, which shows the market for cups of coffee. What might cause a shift from the original supply curve to the new supply curve?
A. A news report that coffee consumption increases longevity B. An increase in the price of tea C. A new technology that reduces amount of coffee beans needed to make a good cup of coffee D. A storm that wipes out a large part of the coffee crop