Refer to the figure below. The equilibrium price is ________, and the equilibrium quantity is ________. 
A. $30; 15
B. $35; 20
C. $25; 5
D. $25; 20
Answer: B
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Why does the government not have to repay debt, as do private individuals?
a. Because the government can ignore creditors and refuse payment. b. Because the government, as a dictatorship, is unresponsive to demands for repayment. c. Because the government has no debt, it owes it to itself. d. Because the government does not have a finite life, as do individuals.
The value of the tax multiplier is always positive because an increase in tax increases the marginal propensity to consume
a. True b. False Indicate whether the statement is true or false
Matilda just graduated from college. In order to devote all her efforts to college, she didn't hold a job. She is going to tour around the country on her motorcycle for a month before she starts looking for work. Other things the same, the unemployment rate
a. increases, and the labor-force participation rate decreases. b. and the labor-force participation rate both increase. c. increases, and the labor-force participation rate is unaffected. d. and the labor-force participation rate are both unaffected.
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown below. CalculatorsPer HourComputersPer HourSmith10010Jones1206Suppose Smith and Jones begin by producing 100 calculators per hour; as Smith and Jones choose to efficiently produce fewer computers and more calculators, ________ should devote more time to calculators because his ________.
A. Smith; opportunity costs are lower B. Jones; opportunity costs are lower C. Smith; absolute advantage is larger D. Jones; absolute advantage is smaller