Refer to Table 3.1 to answer the following questionTable 3.1 Individual Demand and Supply SchedulesQuantity Demanded byPriceAlejandroBenCarlMarket$8.00842________6.001244________4.002046________2.002246________Quantity Supplied byPriceAveryBrandonCassandra $8.006046________$6.004244________$4.002442________$2.00640________In Table 3.1, the equilibrium market price is
A. $6.
B. $4.
C. $2.
D. $8.
Answer: B
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When the price of a pizza is $10, the quantity of soda demanded is 300 drinks. When the price of a pizza is $15, the quantity soda demanded is 100 drinks. The cross elasticity of demand is equal to
A) -0.25. B) -0.40. C) -2.50. D) -25.00. E) 4.00.
If the employer is only permitted to hire members of the labor union, the workplace is called a(n)
a. closed shop b. collective shop c. agency shop d. union shop e. open shop
To attain a higher rate of economic growth, we need to devote___
a. a higher proportion of our production to capital goods and a lower proportion to consumer goods. b. a higher proportion of our production to consumer goods and a lower proportion to capital goods. c. a higher proportion of our production to both consumer goods and capital goods. d. a lower proportion of our production to both consumer goods and capital goods.
When the government taxes and spends, each activity affects GDP in the same proportion.
Answer the following statement true (T) or false (F)