Using the data in the table above, if the price of a stapler is $5, then there is ________ of staplers and the quantity of staplers demanded ________ the quantity of staplers supplied
A) a surplus; is greater than
B) a surplus; is less than
C) a shortage; is greater than
D) a shortage; is less than
E) neither a surplus nor a shortage; equals
C
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A variable is a factor that:
A) cannot be measured. B) is not affected by changes in other factors. C) is independent and cannot be determined. D) takes different values at different points of time.
If the people who take early retirement are not counted in the working-age population, then
A) the unemployment rate would be lower. B) the labor force participation rate would be less. C) the unemployment rate would be higher. D) the labor force participation rate would be higher.
Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. If the marginal social cost of a satellite is $95, the efficient quantity of satellites is
A) 0. B) 1. C) 2. D) 3.
Assume that an economy's real GDP multiplier is 4 . If this economy is in equilibrium at $2,000 billion, then which one of the following actions will bring it to a full employment equilibrium of $1,500 billion?
a. $500 billion spending cut. b. $500 billion spending increase. c. $125 billion spending cut. d. $125 billion spending increase. e. $2,000 billion spending cut.