Figure 17-9
Refer to . Without trade, the equilibrium price of carnations is
a.
$8 and the equilibrium quantity is 300.
b.
$6 and the equilibrium quantity is 200.
c.
$6 and the equilibrium quantity is 400.
d.
$4 and the equilibrium quantity is 500.
a
You might also like to view...
Suppose the equilibrium real federal funds rate is 5 percent, the target rate of inflation is 3 percent, the current inflation rate is 5 percent, and real GDP is 4 percent above potential real GDP
If the weights for the inflation gap and the output gap are both 1/2, then according to the Taylor rule the federal funds target rate equals A) 1 percent. B) 9 percent. C) 13 percent. D) 17 percent.
If all unwelcome or harmful activities were eliminated,
a. the benefits from eliminating these activities would exceed the cost of eliminating them b. there would be no remaining potential Pareto improvements c. society would be more efficient d. society would be less efficient e. the result would be Pareto efficient
A key determinant of the price elasticity of supply is the
a. time horizon. b. income of consumers. c. price elasticity of demand. d. importance of the good in a consumer's budget.
A decrease in the interest rate, other things being equal, causes a(n):
A. upward movement along the demand curve for money. B. downward movement along the demand curve for money. C. rightward shift of the demand curve for money. D. leftward shift of the demand curve for money.