Bushels Demanded Per MonthPrice Per BushelBushels Supplied Per Month45$57750473563686126167157Refer to the above data. If the price in this market was $4:
A. buyers would want to purchase more wheat than is currently being supplied.
B. there would be a shortage of wheat.
C. farmers would not be able to sell all their wheat.
D. the market would clear; quantity demanded would equal quantity supplied.
Answer: C
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The term "fine-tuning the economy" implies: a. making government economic policy more "people oriented"
b. using government policies to adjust the economy and promote economic stability. c. solving microeconomic problems such as externalities and losing sight of the big picture. d. placing fewer regulations on the private sector, thereby eliminating the need for government intervention. e. designing policies based exclusively on leading economic indicators.
An open-market purchase by the Federal Reserve creates an excess _____ of money. This causes interest rates to _____ and investment to _____. The change in investment causes aggregate demand to shift to the _____
Fill in the blank(s) with correct word
The government can help solve the information asymmetry problem by:
A. making it illegal to complete a transaction without complete information. B. providing the missing information to the less-informed party. C. requiring the more informed party to not use the imbalance to their advantage. D. All of these statements are true.
A public university knows that demand from potential students is elastic. If the university wants to increase tuition revenue, it should
a. raise its tuition rate b. hold its tuition rate constant and increase faculty salaries c. increase its financial aid d. lower its tuition rate e. increase its enrollment