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. In this market there will be an excess supply of 600 pizzas at a price of
A. $3.
B. $6.
C. $12.
D. $15.
Answer: D
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As more women decide to work outside the home and therefore hire others to work around their home, GDP will increase by
A) only the value of the household work they are now hiring someone to perform. B) the value of the output produced by the newly working women minus the value of the household work they were previously performing. C) the value of the output produced by the newly working women plus the value of any household work they are now hiring someone to perform. D) only the value of the output produced by the newly working women. E) the value of the household work they were previously performing minus the value of the output produced by the newly working women.
The higher opportunity cost of obtaining an education in developing countries is one of the reasons that school enrollments are lower
a. True b. False Indicate whether the statement is true or false
A decrease in supply:
a. Refers to a leftward shift in the supply curve b. Is likely to result from the decrease in the price of a productive resource c. Refers to a downward movement along a supply curve d. Has the same meaning as the phrase "a decrease in quantity supplied"
The supply of dollars in foreign exchange markets is
A. a function of the international banking system. B. determined by the U.S. demand for foreign goods. C. determined by the Federal Reserve System. D. determined by the U.S. Comptroller of the Currency.