This table shows the demand and supply schedule of a good.Price of GoodQDemandQsupply$0.005025$0.504026$1.003528$1.503131$2.002835$2.502740According to the table shown, at a price of $1.00:
A. a shortage will exist.
B. the market is in equilibrium.
C. a surplus will exist.
D. more is being supplied than demanded.
Answer: A
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If the government of a country is maintaining an overvalued currency against the dollar, then the:
A) quantity of dollars demanded will exceed the quantity of dollars supplied in the foreign exchange market. B) quantity of dollars demanded will equal the quantity of dollars supplied in the foreign exchange market. C) quantity of domestic currency demanded will exceed the quantity of dollars supplied in the foreign exchange market. D) quantity of dollars supplied will exceed the quantity of dollars demanded in the foreign exchange market.
Refer to Figure 5.1. All else equal, an increase in the number of workers will cause a
A) shift from PF1 to PF2. B) shift from PF2 to PF1. C) movement up and to the right along PF1. D) movement down and to the left along PF2.
Explain why the Fed does not consider zero unemployment as a desirable goal
What will be an ideal response?
A criticism of market-oriented schemes says that consumers may not be well informed.
A. True B. False C. Uncertain