Refer to Table 3-2. The table above shows the demand schedules for caviar of two individuals (Ari and Sonia) and the rest of the market. At a price of $75, the quantity demanded in the market would be
A) 6 oz. B) 46 oz. C) 52 oz. D) 127 oz.
C
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While the budget deficit represents a ________, the public debt represents a ________
A) flow; flow B) stock; flow C) flow; stock D) stock; stock
The difference between bid (buying) rates and ask (selling) rates is called the
A) profit. B) arbitrage. C) spread. D) forward transaction.
Which of the following will lead to GDP underestimating our true output? a. Mary begins a catering business
b. James begins drawing Social Security benefits upon his retirement. c. David accepts a position as a software specialist at Microsoft. d. Gretchen begins an accounting and bookkeeping service in her home, accepting cash as payment, which is not reported to tax authorities.
An increase in the money supply should cause the expenditure schedule to shift upward
a. True b. False Indicate whether the statement is true or false