Refer to the given table. Suppose the columns in this table reflect demand and supply. At a price of $50:Price Per UnitColumn A Units Per YearColumn B Units Per Year$2010040$309550$408060$506570$605080
A. there will be an excess supply of 70 units.
B. there will be an excess supply of 5 units.
C. there will be an excess demand of 5 units.
D. the market will be in equilibrium.
Answer: B
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During the period between 1960 and 1968 the poverty rate _______.
Fill in the blank(s) with the appropriate word(s).
If Moe’s has four workers, and Moe wants to improve his marginal product of labor, he should ______.
a. find higher quality workers
b. reduce the number of workers
c. pay his staff less
d. charge more for his bagels
Which of the following is most likely to represent causality rather than association?
A. In years that fashion dictates wider lapels on men's jackets, the stock market grows by at least 5 percent. B. Interest rates are higher in years ending with a 1 or a 6. C. Unemployment falls when the AFC champion wins the Super Bowl. D. Quantity demanded goes up when price falls because lower prices increase consumer purchasing power, ceteris paribus.
Automatic stabilizers smooth fluctuations in the economy because they produce changes in the government's deficit that:
A. produce a cyclically adjusted budget. B. produce a full-employment budget. C. help offset changes in GDP. D. reinforce changes in GDP.