In most markets, the equilibrium price is achieved
A. Through detailed databases.
B. Using an equilibrium price formula.
C. Through trial and error.
D. Through government mandate.
Answer: C
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Peg's Manicure Manor did 4,000 sets of nails in 2015 and 4,500 sets of nails in 2016. The price of a set of nails was $20 in 2015 and $22 in 2016. If 2015 is the base year, Peg's contribution to real GDP in 2015 was ________ and in 2016 was ________.
A. $80,000; $88,000 B. $80,000; $90,000 C. $88,000; $90,000 D. $80,000; $99,000
Unemployed workers in Bosnia could receive up to 30 weeks of unemployment insurance. However, during a recent recession, the government extended the eligibility period to 45 weeks
How is this change in policy likely to affect the labor market in Bosnia?
Refer to the above figure. Medicare subsidies have increased the price of medical services to Ps. The perceived price on the part of consumers is
A) Ps. B) P0. C) Pd. D) undetermined without more information.
Discuss the factors behind the recent decline in labor union membership