Refer to the graph shown. The equilibrium quantity for the monopolistically competitive firm represented is:
A. 70.
B. 30.
C. 50.
D. 60.
Answer: B
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The above figure shows three demand curves labeled D1, D2, and D3. Rank these three demand curves in terms of elasticity at a price of c
What will be an ideal response?
The market value of all final goods and services in an economy produced by resources owned by people of that economy, regardless of where the resources are located, is
a. gross domestic product b. gross national product c. net national product d. national income e. gross private domestic investment
Explain how banks create loans and how this process is impacted by the reserve requirement and excess reserves. Then, create a scenario that demonstrates how banks create money when they issue loans, being sure to include an initial deposit amount, a reserve requirement ratio, an excess reserve amount, and how much money can be created from a single transaction.
What will be an ideal response?
An income tax cut ________ aggregate demand and ________ aggregate supply
A) increases; decreases B) increases; increases C) decreases; decreases D) decreases; increases E) does not change; increases