market supply schedule
What will be an ideal response?
A market supply schedule shows the relationship between prices and the total quantity supplied by all firms in a particular market.
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If this is a closed economy how many cars will be exchanged?
A. 80,000 B. 20,000 C. 60,000 D. 40,000
Unemployment insurance could affect unemployment by:
A. increasing the equilibrium level of unemployment. B. decreasing the amount of frictional unemployment. C. changing the incentives of those unemployed and looking for work. D. All of these are true.
According to the foreign trade effect, when the U.S. price level decreases, U.S. consumers are likely to buy:
A. More American-made products. B. Different American-made products. C. More foreign-made products. D. Less of all products, both American made and foreign made.
Refer to the information provided in Figure 5.7 below to answer the question(s) that follow.
Figure 5.7The above figure represents the market for pumpkins both before and after the imposition of an excise tax, which is represented by the shift of the supply curve.Refer to Figure 5.7. The total revenue the government will receive from the imposition of this tax is
A. $875. B. $1,225. C. $2,100. D. $3,600.