Refer to the given table. Suppose the columns in this table reflect demand and supply. At a price of $30:Price Per UnitColumn A Units Per YearColumn B Units Per Year$2010040$309550$408060$506570$605080
A. the market will be in equilibrium.
B. there will be an excess demand of 95 units.
C. there will be an excess demand of 45 units.
D. there will be an excess supply of 45 units.
Answer: C
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A) Plutoland experienced a current account surplus during that year B) Plutoland experienced a current account deficit during that year C) Earthland ran a current account deficit during that year D) Earthland and Plutoland should stop trading with each other
Statistics show that 77% of all education majors are ________ and 81% of all social workers are ________
A) men; men B) men; women C) women; men D) women; women
If a product is a normal good, then its income elasticity of demand is
A) zero. B) positive. C) negative. D) indeterminate. E) greater than 1.
The government wants to increase its spending to stimulate the economy. Taking into account direct expenditure offset effects, what is its best spending option?
A. a new fighter jet for the military B. providing textbooks for college students C. constructing more low income housing D. expanding the school lunch program