When you purchase a new surfboard you do so in the
A) resource market.
B) product market.
C) input market.
D) factor market.
Answer: B
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Assume that the market for bread is perfectly competitive. The demand for bread is given by the equation: D = 120 - 10P and the market supply for bread is given by: S = 60 + 5P. Determine the equilibrium price and quantity of bread
What happens if the price of the bread is set at $10 per loaf? What happens if the market price is set at $2 per loaf?
Refer to Table 26-1. The hypothetical information in the table shows what the values for real GDP and the price level will be in 2017 if the Fed does not use monetary policy
Which of the following policies makes sense if the Fed wants to keep real GDP at its potential level in 2017? A) The Fed should lower the target for the federal funds rate. B) The Fed should pursue contractionary policy. C) The trading desk should sell Treasury securities. D) The Fed should lower capital gains taxes.
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). b. The GDP Price Index rises, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). c. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). d. The GDP Price Index and net nonreserve-related international borrowing/lending remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Suppose Campus Books, a profit-maximizing firm, is the only supplier of the textbook for a given class. The marginal cost of supplying each book is constant and equal to $10, and Campus Books has no fixed costs. The table shows the reservation prices of the eight students enrolled in the class. CustomerReservation Price($/Book)Q60R54S48T42U36V30W24X18What will be Campus Books' economic profit if it must charge a single price to all of its customers?
A. $120 B. $128 C. $130 D. $180