If supply is unchanged, a decrease in the demand for tacos will cause the equilibrium price to:
A.) Rise and equilibrium quantity to fall.
B.) Rise and equilibrium quantity to rise.
C.) Fall and equilibrium quantity to rise.
D.) Fall and equilibrium quantity to fall.
D.) Fall and equilibrium quantity to fall.
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The total number of people aged 16 years and over who are not institutionalized ________
A) equals the number of employed plus unemployed B) is the working-age population C) does not include students D) is the labor force
If an industry is made up of five identical firms, the four-firm concentration ratio is
A) 5%. B) 20%. C) 80%. D) 100%.
Suppose that the banking system currency has no excess reserves and that a bank receives a deposit into a checking account of $10,000 in currency
If the required reserve ratio is 0.20, what is the maximum amount that the BANKING SYSTEM can lend out? A) $8,000 B) $10,000 C) $40,000 D) $50,000
Assume the market for tennis balls is perfectly competitive. When one tennis ball producer exits the market,
a. the price of tennis balls increases. b. the price of tennis balls decreases. c. the price of tennis balls does not change. d. there is no longer a market for tennis balls.