If a shirt manufacturer has a surplus of two shirts when they're priced at $14 each and a shortage of two shirts at $10 each, market equilibrium is likely at
a. $11 per shirt
b. $12 per shirt
c. $13 per shirt
d. $15 per shirt
Ans: b. $12 per shirt
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If there is an increase in the demand for U.S. automobiles, the
A) demand for dollars will fall. B) demand for dollars will rise. C) supply of dollars will fall. D) supply of dollars will rise.
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a. 1.10 US dollars b. 1 US dollar c. 0.91 cents US d. 0.99 cents US
Among the pioneers of real business cycle theory is ________
A) Edward Prescott B) Robert Lucas C) Robert Solow D) Paul Volcker