A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. What is the equilibrium price in the market without the market maker
a. $12
b. $11
c. $10
d. $9
c
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A Consumer Price Index of 120 for a certain year means that the average price of consumer items in that year was
A. 20% higher than the average price of the preceding year. B. 120% higher than the average price in the base period 1982-84. C. 20% higher than the average price in the base period 1982-84. D. about $120 per basket of consumer goods and services.
When Alex eats 1 slice of pizza, his total utility is 80; when Alex eats 2 slices of pizza, his total utility is 120. Alex's marginal utility from the second pizza is
A) 200. B) 80. C) 60. D) 40.
If there are 10 job losers, 12 job leavers, 13 reentrants, and 12 new entrants, then there are __________ unemployed persons
A) 35 B) 47 C) 25 D) 37 E) There is not enough information to answer the question.
Which of the following demographic groups in the U.S. has the highest unemployment rates?
A. college graduates B. white working-age people C. African-American teenage males D. all working-age people with a high school diploma but no college