Refer to the scenario above. What is the probability of picking a green ball from the box?
A) 12.83%
B) 16.67%
C) 24.75%
D) 32.35%
B
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The velocity of circulation of money is typically greater than 1
A. under no circumstances. B. only if the unemployment rate is relatively low. C. because the same money is exchanged a number of times each year. D. because of inflation.
Education at a private university is NOT a pure public good because it is
A) nonrival. B) excludable. C) both nonrival and nonexcludable. D) None of the above answers is correct.
Assume a subsidy to buyers has been enacted in the market in the graph shown. With the subsidy, the producers sell _____ units and receive _____ for each of them.
A. 100; $46
B. 100; $30
C. 150; $40
D. 150; $24
A very large number of small sellers who sell identical products imply
A) a multitude of vastly different selling prices. B) a downward sloping demand curve for each seller's product. C) the inability of one seller to influence the price. D) chaos in the market.