According to the following graphs, what is Y1?
The price of Y is $15 per unit.
A. 20
B. 12
C. 25
D. 15
E. none of the above
Answer: D
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A rent ceiling
A) increases the quantity of rental units supplied. B) cannot change the market price. C) set above equilibrium price has no effect. D) generally aims at insuring that landlords receive a higher rent than would otherwise be the case.
The factor that leads to underpricing and overuse of an economic resource is
a. human greed and selfishness. b. capital markets. c. the lack of an enforceable property right. d. the lack of understanding of pollution and its effects.
Instruments so widely accepted and purchased by others that they are very similar to cash are known as
a. liquid assets b. hard assets c. corporate assets d. marketable securities e. none of the above
What is the difference between an inflation-indexed Treasury bond, and a Treasury bond that is not indexed?
A) An inflation-indexed Treasury bond guarantees a certain real rate of return, while a nonindexed Treasury bond does not. B) A nonindexed Treasury bond guarantees a certain real rate of return, while a nonindexed Treasury bond does not. C) An inflation-indexed Treasury bond can only be purchased directly from the Federal Reserve, while a nonindexed Treasury can be purchased through a broker. D) An inflation-indexed Treasury bond always guarantees the purchaser a 5 percent rate of return, while a nonindexed Treasury bond does not.