Refer to the information provided in Figure 3.18 below to answer the question(s) that follow.
Figure 3.18Refer to Figure 3.18. The market is initially in equilibrium at Point B. If demand shifts from D2 to D1, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.
A. $3.00; 250
B. $4.00; 350
C. $3.00; 400
D. $4.00; 150
Answer: A
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A) 1 bolt per nut B) 1/2 bolt per nut C) 8/6 bolts per nut D) 8 bolts per nut
The growth rates of actual and potential GDP
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A union can influence the demand for labor by:
a. requiring union fees. b. raising union fees. c. effective advertising that convinces customers to buy the "union label." d. all of these.
Using the income approach, the largest component in the calculation of GDP is:
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