Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. At a price of $6, the quantity demanded in the market would be
A) 87 lbs. B) 95 lbs. C) 103 lbs D) 215 lbs.
C
You might also like to view...
Refer to Table 2-13. What is Horace's opportunity cost of bathing a cat?
A) one and a half groomed dogs B) two groomed dogs C) two-thirds of a groomed dog D) half a groomed dog
In the classical model, a temporary increase in government purchases causes the new equilibrium to have
A) more employment and a lower real wage than before. B) more employment and a higher real wage than before. C) less employment and a lower real wage than before. D) less employment and a higher real wage than before.
Which of the following would not be considered an automatic stabilizer?
A) rising corporate income tax revenues due to an expanding economy B) increasing food stamp payments due to more people becoming unemployed during a recession C) legislation increasing funding for job retraining passed during a recession D) decreasing unemployment insurance payments due to increased employment during an expansion
Economists usually assume that all consumers have the same tastes and preferences
a. True b. False