If demand is represented as Qd = 18 - 6P and supply is represented as Qs = 3 + 9P, the equilibrium quantity is
A. 1.
B. 4.
C. 7.
D. 12.
Answer: D
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When the money supply declined by approximately 30 percent during the 1929 through 1933 period,
a. real output increased. b. the general level of prices increased. c. the velocity of money increased by a proportional amount. d. unemployment increased.
When people are in financial difficulty an advisor will usually recommend establishing a budget for spending. One reason is that a budget will act to discipline behavior if people psychologically are subject to
A. mental accounts. B. bounded rationality. C. segregated gains. D. the halo effect.
If the price were $20, what would the firm do in the (a) short run? (b) long run?
________: the rate of exchange of pairs of consumption goods or services to leave utility or satisfaction unchanged
Fill in the blank(s) with correct word