The above figure shows supply and demand curves for milk. In an effort to help farmers, the government passes a law that establishes a $3 per gallon price support. To maintain the price support, government must purchase
A) Q1 gallons.
B) Q2 gallons.
C) Q1 - Q2 gallons.
D) Q2 - Q1 gallons.
D
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Because the consumer’s budget is limited, purchase decisions among available goods must of necessity be interdependent.
Answer the following statement true (T) or false (F)
Managers undertake an investment only if
a. Marginal benefits of the investment are greater than zero b. Marginal costs of the investment are less than marginal benefits of the investment c. Marginal benefits are greater than marginal costs d. Investment decisions do not depend on marginal analysis
The speculative demand curve for money is:
a. downward sloping. b. upward sloping. c. vertical. d. horizontal. e. spiral.
U.S. GDP in 2012 was about:
A. $8.1 trillion B. $15.7 trillion C. $890 billion D. $1200 billion