Refer to the information provided in Table 3.1 below to answer the question(s) that follow.
Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. In this market there will be an excess demand of 300 pizzas at a price of
A. $6.
B. $9.
C. $12.
D. $15.
Answer: A
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Refer to Figure 26-7. Suppose the economy is in short-run equilibrium above potential GDP, the unemployment rate is very low, and wages and prices are rising
Using the static AD-AS model in the figure above, the correct Fed policy for this situation would be depicted as a movement from A) A to B. B) B to C. C) C to D. D) C to B. E) A to E.
During the expansion phase of the business cycle, business firms become optimistic about their future earning capacity as do banks. Nominal interest rates rise during expansions. Investment lending could be expected to
A) rise if the change in future earnings is thought to be greater than the change in interest rates. B) stay the same. C) fall. D) fall if the change in future earnings is thought to be greater than the change in interest rates.
The ways to address agency costs include all EXCEPT
a. running background checks on prospective employees b. hiring only from job fairs c. spot checks of the quality of employee work d. replacing closed offices with cubical office spaces
Describe the role of business inventory change in determining the equilibrium level of GDP and changes in the level of GDP.
What will be an ideal response?