If demand is represented as Qd = 18 - 6P and supply is represented as Qs = 3 + 9P, the demand curve intersects the y axis at a price of ________ and the supply curve intersects the y axis at a price of ________.
A. $18; $3
B. $21; $15
C. $12; $12
D. $6; $9
Answer: A
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Quinn has job offers in Wrexington and across the country in Charlieville. The Wrexington job would pay a salary of $50,000 per year, and the Charlieville job would pay a salary of $40,000 per year. The CPI in Wrexington is 150, and the CPI in Charlieville is 90. Refer to Scenario 24-4. If Quinn only cares about maximizing her purchasing power, then she should
a. take the Charlieville job. b. take the Wrexington job. c. take either job because they both have the same purchasing power. d. The answer cannot be determined from the information given because a salary is not the same as purchasing power.
In the Keynesian-cross model, if government purchases increase by 100, then planned expenditures ______ for any given level of income.
Fill in the blank(s) with the appropriate word(s).
If the cyclical unemployment rate were 2 percent, then the overall unemployment rate would be _____ percent.
Fill in the blank(s) with the appropriate word(s).
Explain several of the key contributions of Keynes
What will be an ideal response?