Consider a market for fish whose market demand and market supply for fish is specified as Qd = 300 ? 2.5P and Qs = ? 20 + 1.5P, respectively. The equilibrium price and quantity is:
A. $100 and 80, respectively.
B. $80 and 100, respectively.
C. $100 and 130, respectively.
D. $40 and 200, respectively.
Answer: B
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Minimum wages:
A) benefit all workers. B) are usually set below equilibrium wages. C) can reduce wage rigidity. D) can increase unemployment.
The person hired by a corporation's board of directors to ________ is known as the chief executive officer
A) chair the board of directors B) run the day-to-day operations of the corporation C) hire additional members for the board of directors D) audit the financial records of the corporation
The equation E¥/£ = 100 means that:
a. one yen buys 10 pounds. b. 0.1 yen buys one pound. c. 10 yen buy one pound. d. 0.01 yen buys one pound.
At the outset of the 21st century, most global trade took the form of:
a. services, rather than goods b. goods, rather than services c. equal trade in goods and services d. trade surpluses in thee service sector