Refer to Figure 2.3. At a price of $10 per CD, there would be:
A. excess supply of 70 thousand CDs.
B. excess demand of 50 thousand CDs.
C. excess supply of 50 thousand CDs.
D. excess demand of 70 thousand CDs.
D. excess demand of 70 thousand CDs.
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The decrease in the quantity of labor supplied due to the greater demand for leisure caused by a higher income is called the:
A. income effect. B. price effect. C. substitution effect. D. labor effect.
Which of the following does not describe the World Bank?
a. an economic development institution b. affiliated with the United Nations c. offers low-fee checking accounts to anyone in the world d. estimates output per capita figures e. uses output per capital figures to classify economies
Game theory is a model for describing oligopoly price decisions among firms that are:
a. interdependent. b. independent. c. regulated d. merging
Which of the following would tend to increase aggregate demand, other things equal?
a. An increase in the money supply curve b. A decrease in the money supply curve. c. An increase in the money demand cuvre. d. Both a. and c. would tend to increase aggregate demand, other things equal.