To calculate market demand, we
A. Add the quantities demanded for each individual demand schedule horizontally.
B. Find the difference between the quantity demanded and the quantity supplied at each price.
C. Add the quantities demanded for each individual demand schedule vertically.
D. Find the average quantity demanded at each price.
Answer: A
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If there is an excess demand for money in the economy,
a. there is also an excess supply of money. b. there is also an excess demand for bonds. c. there is also an excess supply of bonds. d. the interest rate will fall. e. there is also an excess supply of housing.
The slope of a line is equal to
a. the change in the value of x divided by the change in the value of y. b. the change in the value of y divided by the change in the value of x. c. the horizontal distance divided by the vertical distance. d. the value of y divided by the value of x.
Assume the demand for coffee increases and the supply of coffee decreases. Which of the following outcomes is certain to occur?
A. The equilibrium quantity of coffee will fall. B. The equilibrium price of coffee will fall. C. The equilibrium price of coffee will rise. D. The equilibrium quantity of coffee will rise.
Which of the following events occurred during the 1996-2000 time-frame and had an important impact on the deficit/surplus projections?
A. A dramatic increase in the rate of unemployment. B. A dramatic increase in the price of oil. C. A dramatic increase in the rate of inflation. D. A dramatic increase in the value of most major stock markets.