Nationally, the place you are most likely to find a community leader is among the owners/managers of
A. a Sam's or Costco warehouse club.
B. a national chain grocery store.
C. an independent or IGA affiliated grocery store.
D. a Walmart or other Superstore.
Answer: C
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You are given the following market data for apples
Demand is represented by: P = 12 - 0.01Q Supply is represented by: P = 0.02Q where P= price per bushel, and Q=quantity. a. Calculate the equilibrium price and quantity. b. Suppose the government guaranteed producers a price of $10 per bushel. What would be the effect on quantity supplied? Provide a numerical value. c. By how much would the $10 price change the quantity of apples demanded? Provide a numerical value. d. Would there be a shortage or surplus of apples? e. What is the size of this shortage or surplus? Provide a numerical value.
Refer to the above figure. In the absence of a subsidy,
A) Qd would be demanded and QM would be supplied. B) the price Pd would be charged and quantity QM demanded. C) the quantity Qo and price Po would prevail in the market. D) None of the above is correct.
Find the size of the civilian labor force from the following data: frictional unemployment = 150, structural unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully employed workers = 850, total population = 2,000
a. 1,425 b. 1,450 c. 1,500 d. 1,525 e. 2,000
A rightward shift in a demand curve and a leftward shift in a supply curve both result in a
A. Lower equilibrium quantity. B. Higher equilibrium quantity. C. Lower equilibrium price. D. Higher equilibrium price.