In the market for good X there are three buyers, Adam, Bill, and Carolyn. Adam buys 3 units of good X at $4, Bill buys 7 units of good X at $4, and Carolyn buys 8 units of good X at $4. One point on the market demand curve for good X consists of a price of _____________ and a quantity demanded of __________________ units
A) $4; 10
B) $4; 18
C) $4; 15
D) $5; 8
E) none of the above
B
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It is possible to represent three dimensions on a two-dimensional graph by using
A. a contour map. B. a razor blade. C. curved lines. D. All of these responses are correct.
GDP ignores all of the following EXCEPT
A) household production. B) changes in the environment that occur in the production of output. C) the value of leisure time. D) products produced in other countries that are sold in the United States.
If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $1000 billion, and excess reserves total $1 billion, then the excess reserves-checkable deposit ratio is
A) 0.01. B) 0.10. C) 0.001. D) 0.05.
The economics of local school financing discourages school districts from attempting to maximize their tax base while minimizing enrollment size
Indicate whether the statement is true or false