The equilibrium quantity is the common quantity where the amount of the product consumers want to buy (quantity demanded) is equal to the amount producers want to sell (quantity supplied).
Select whether the statement is true or false.
A. True
B. False
A. True
This statement is true. Equilibrium quantity is the common quantity where quantity demanded is equal to the quantity supplied.
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Many experts on the nursing shortage insist that, in addition to higher money wages, other ways will have to be found to make the nursing profession more attractive, including, for example, more respect from physicians and administrators, more flexible schedules, and more secure parking lots. These facts illustrate the concept of
A. exploitation. B. pecuniary principles. C. economic rent. D. nonmonetary attractiveness.
Protectionism through _________ implementation makes imports more expensive for consumers and discourages imports.
a. quote b. tariff c. nontariff barrier d. standards
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.If Joe and Sarah are faced with the game in the figure shown, we can see that:
A. neither student has a dominant strategy. B. Sarah has a dominant strategy, but Joe does not. C. Joe has a dominant strategy, but Sarah does not. D. both students have a dominant strategy.
Which of the following is a tool of the Federal Reserve System?
A. Encouraging employment by lending money at a discounted rate to firms that are in danger of having to make layoffs. B. Reducing the burden of household debt by capping credit card and other loan interest rates at reasonable levels C. Buying or selling stocks of publicly traded corporations in order to stabilize the stock market D. Buying or selling bonds in the open market in order to stimulate the economy during recessions and prevent inflation