Bushels Demanded Per MonthPrice Per BushelBushels Supplied Per Month45$57750473563686126167157Refer to the above data. Equilibrium price is:
A. $3.
B. $1.
C. $2.
D. $4.
Answer: C
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When a tax is placed on the buyers of cell phones, the size of the cell phone market
a. and the effective price received by sellers both decrease. b. decreases, but the effective price received by sellers increases. c. increases, but the effective price received by sellers decreases. d. and the effective price received by sellers both increase.
Relative-price variability
a. rises with inflation, leading to an improved allocation of resources. b. rises with inflation, leading to a misallocation of resources. c. falls with inflation, leading to an improved allocation of resources. d. falls with inflation, leading to a misallocation of resources.
Which question is an example of a macroeconomic question?
A. What is the level of industrial concentration in the U.S. automobile industry? B. What economic incentives can be used to reduce the cost of health care in the nation? C. What policies would be recommended for stimulating national economic growth? D. What market conditions are expected for milk in the nation this year?
Unemployment benefits are paid only if a person's income from all sources and assets is below a certain level.
Answer the following statement true (T) or false (F)