Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. This market will be in equilibrium if the price per cheeseburger is
A. $5.
B. $6.
C. $7.
D. $8.
Answer: C
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Productivity is the
a. key determinant of living standards, and growth in productivity is the key determinant of growth in living standards. b. key determinant of living standards, but growth in productivity is not the key determinant of growth in living standards. c. not the key determinant of living standards, but growth in productivity is the key determinant of growth in living standards. d. not the key determinant of living standards, and growth in productivity is not the key determinant of growth in living standards.
Gold is:
A. very important for monetary policy in the U.S. B. a small portion of the Fed's assets. C. the most important asset on the Fed's balance sheet. D. extremely important as an asset for the Fed.
If an owner of a copy center is interested in knowing which of her employees can make the most copies in one hour, she wants to understand _____.
(A) Which employee has the absolute advantage in making copies. (B) The opportunity cost of employees making copies . (C) Which employee has the comparative advantage in making copies. (D) The resource distribution of her copy center.
Which of the following is correct if real GDP is $20 trillion and spending is $20 trillion?
What will be an ideal response?