Refer to the information provided in Figure 3.14 below to answer the question(s) that follow.
Figure 3.14Refer to Figure 3.14. At a price of $60, there is an excess
A. supply of zero sunglasses.
B. demand of 300 sunglasses.
C. supply of 300 sunglasses.
D. demand of 150 sunglasses.
Answer: A
You might also like to view...
If Rob deposits $300 in currency into his savings account at Bank of America,
A) M1 decreases. B) M1 does not change. C) M2 increases. D) M2 decreases. E) M1 and M2 both increase.
Which of the following would you expect to increase the equilibrium interest rate?
A) an increase in the budget deficit B) a decrease in the profitability of investment projects firms are considering C) a change from an income tax to a consumption tax D) an increase in the percentage of income after net taxes that households save Figure 21-1
After the Civil War (1861–1865), the cotton South
(a) continued to experience prosperity. (b) was no longer the main contributor to the agricultural sector, as wheat production elsewhere began to prosper. (c) experienced prosperity in some Southern states but not in all. (d) was no longer the major source of income for the South; Southerners quickly supplemented their cotton incomes with income generated by the manufacturing sector.
Answer the following statements true (T) or false (F)
1) Graphically, the height of the investment schedule depends on the real interest rate, together with the location of the investment demand curve. 2) In the aggregate expenditures model presented in the textbook, investment is assumed to rise with increases in real GDP and fall with decreases in real GDP. 3) In the private closed economy, equilibrium GDP occurs where C + I g = GDP. 4) When C + I g = GDP in a private closed economy, S = I g and there are no unplanned changes in inventories. 5) If C + I g exceeds GDP in a private closed economy, GDP will decline.