If the quantity of textbooks supplied is 10,000 per year and the quantity of textbooks demanded is 12,000 per year, there is a ________ in the market and the price will ________
A) shortage; rise
B) shortage; fall
C) surplus; rise
D) surplus; fall
A
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According to the Taylor, if there is an expansionary gap of 2 percent of potential output and inflation is 3 percent, what real interest rate will the Fed set?
A. 0.015 B. 0.02 C. 0.035 D. 0.025
Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price decreases from $16 to $14 is
A. -3.29. B. -1.37. C. -0.33. D. -1.
Between 1900 and the mid-1970s the average workweek fell from ____ hours to less than ____ hours.
Fill in the blank(s) with the appropriate word(s).
In the graph shown, what would eliminate a trade deficit if there were one?
A. Foreign wages rise relative to domestic wages. B. The exchange rate appreciates. C. Domestic reservation wages rise. D. Government runs expansionary policy.