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 $5, the price will
A. decrease because there is an excess demand in the market.
B. increase because there is an excess demand in the market.
C. decrease because there is an excess supply in the market.
D. remain constant because the market is in equilibrium.
Answer: B
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All of the following actions shift the aggregate demand curve to the right EXCEPT
A) the Fed raises the interest rate. B) an increase in government transfer payments. C) inflation is expected to rise next year. D) an increase in expected future profit. E) a decrease in taxes.
In the figure above, when the market is in equilibrium, total consumer surplus on all the CDs bought will be
A) greater than $30 million. B) less than at any other price. C) $20 million. D) less than $15 million.
An inverse relationship between the rate of interest and the level of:
a. Investment spending is suggested by the investment-demand curve b. Employment is suggested by the aggregate demand curve c. Income is suggested by the consumption function d. Prices is suggested by the aggregate supply curve
Goods produced by the economic system that are used as inputs in the production of future goods and services are
A. capital goods. B. consumable goods. C. depreciation goods. D. tangible goods.