Because unemployment is a macroeconomic topic, an increase in unemployment would not be expected to have any impact on the equilibrium price or quantity in the market for an individual good
Indicate whether the statement is true or false
FALSE
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At higher interest rates the
A) money supply is indeterminate. B) quantity of money demanded is higher. C) money supply is higher. D) quantity of money demanded is lower.
The incidence of a tax depends on whether the government collects the tax from buyers or sellers
Indicate whether the statement is true or false
Suppose the market for shoes consists of three consumers. The accompanying table shows the quantity demanded at various prices for each consumer:PricePer PairPairs Demandedby PatPairs Demandedby LeighPairs Demandedby Chris$100010$75031$50173$302105At $100 per pair, market demand:
A. is less than the quantity supplied. B. intersects the x-axis. C. intersects the y-axis. D. is the same as Leigh's demand.
A price ceiling set above the equilibrium price will cause which of the following?
A) an increase in supply B) a surplus C) a shortage D) no effect on either the price or quantity