In Figure 4-5, the commodity market is in equilibrium
A) at points B, C, and E.
B) at points A and E.
C) only at point E.
D) at points E and D.
E) at points A, B, E, and C.
B
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Indicate whether the statement is true or false
The introduction of steamboats:
a. led to dramatic declines in the price of upstream transport. b. led to moderate declines in the price of downstream transport. c. is the primary reason for falling transportation costs in the early 1800s. d. led to an initial decrease in transport costs that continued to fall due to learning by doing and the construction of lighter boats with increased capacity. e. All of the above.
Which statement is true regarding the a change in demand and a change in quantity demanded?
A. If a good's price goes down, then demand for the good will decrease B. If demand increases, then the demand curve will shift to the left C. it a good's price goes down, then quantity demanded will increase D. If price rises and quantity demanded decreases then the demand curve will shift to the left
If a lump-sum tax of $40 billion is imposed and the MPC is .6, the saving schedule will shift:
A. downward by $24 billion. B. upward by $24 billion. C. downward by $16 billion. D. upward by $16 billion.