Refer to the figure below. At the equilibrium price of $6, the sellers' total revenues are equal to:
A. $300
B. $50
C. $360
D. $150
A. $300
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According to traditional Keynesians, monetary policy as a tool to fight a recession
A) is very effective because interest rates will fall immediately. B) has an uncertain effect on the economy, depending on the direction of fiscal policy. C) is ineffective because interest rates will not fall. D) cannot be determined because traditional Keynesians do not consider monetary policy at all.
The largest component of spending in GDP is
A) government spending. B) net export spending. C) investment spending. D) consumption spending.
Return to the case of Jan, the hyperbolic discounter from the previous question. What values of B and C will lead her to be consistent with a plan not to undertake the action?
a. C < B < 2C. b. B < C. c. B > 2C. d. B < C < 2B.
The demand for luxurious goods are usually unaffected by an increase in income
a. True b. False Indicate whether the statement is true or false