Refer to the figure below. If Mallory and Rick are the only two consumers in this market and the price of soda is $0.75 per can, then what will be the market demand for soda each week? 
A. 50
B. 20
C. 70
D. 30
Answer: A
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The price elasticity of demand measures consumer responsiveness to a price change
a. True b. False Indicate whether the statement is true or false
The reduction in private borrowing that is caused by an increase in government borrowing is called:
A. the crowding out effect. B. surplus investment. C. the dissaving effect. D. the savings effect.
Which of the following would not be an appropriate response to an unfavorable balance of trade for the United States?
a. increase tariffs b. appreciate the dollar c. subsidize exports d. impose import quotas e. impose exchange controls