Refer to the information provided in Table 3.1 below to answer the question(s) that follow.
Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. If the price per pizza is $3, the price will
A. decrease because there is an excess supply in the market.
B. remain constant because the market is in equilibrium.
C. increase because there is an excess demand in the market.
D. increase because there is an excess supply in the market.
Answer: C
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A) true. B) right. C) value-laden. D) objective.
Entrepreneurship is
a. restricted to perfect competition. b. occurs only in well-functioning markets. c. the process of planting new crops. d. the process of taking business risks.
What is the budget surplus if the total amount of taxes collected by a local government is $171,000 and the total amount spent is $90,000?
A) $81,000 B) $100,000 C) $70,000 D) $262,000
The government budget deficit, ________, is ________ when saving exceeds domestic investment
A) (T - G), created B) (T - G), partially financed C) (G - T), created D) (G - T), partially financed