In the above figure, the unregulated, competitive market equilibrium is tuition of ________ and the equilibrium quantity is ________ students in college
A) $18,000; 30 million
B) $12,000; 40 million
C) $6,000; 50 million
D) $18,000; 50 million
A
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Economic policy tool—contractionary fiscal policy. This is a weapon that can be used against inflation, though it would generally be unwise to use it at times of high unemployment
What will be an ideal response?
You are planning a graduation trip to Mexico. Other things the same, if the dollar appreciates relative to the peso, then
a. the dollar buys fewer pesos. Your hotel room in Mexico will require fewer dollars. b. the dollar buys fewer pesos. Your hotel room in Mexico will require more dollars. c. the dollar buys more pesos. Your hotel room in Mexico will require fewer dollars. d. the dollar buys more pesos. Your hotel room in Mexico will require more dollars.
Government can use its funds to purchase goods or transfer money to people.
a. true b. false
Figure 9.4 represents the market for used 12 megapixel digital cameras. Suppose buyers are willing to pay $400 for a plum (high-quality) used digital camera and $200 for a lemon (low-quality) used digital camera. If buyers believe that 50% of used digital cameras in the market are lemons (low quality), how many plums (high quality) will be supplied by sellers?
A. 50 B. 60 C. 150 D. 200