Figure 5-3
In Figure 5-3, a decline in price from 3 to 1 will increase market quantity demanded by
a.
30.
b.
40.
c.
50.
d.
60.
a
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The Federal Reserve's two main ________ are the money supply and the interest rate
A) fiscal tools B) fiscal policy targets C) policy tools D) monetary policy targets
If a government has an active surplus and is below full employment, then:
a. The actual deficit must be less than the passive deficit. b. The actual deficit must be greater than the passive deficit. c. The actual deficit must be greater than the active surplus. d. Fiscal policy must be stimulatory and moving the nation closer to full employment.
What is the price and quantity of coffee for the second-highest point on the market supply curve?
a. $3 per pound; 3,000 pounds of coffee per year
b. $3 per pound; 5,000 pounds of coffee per year
c. $4 per pound; 7,000 pounds of coffee per year
d. $5 per pound; 7,000 pounds of coffee per year
Exhibit 5-1 Demand curve
?
In Exhibit 5-1, the demand curve between points a and b is:
A. elastic. B. inelastic. C. unit elastic. D. perfectly elastic.