Refer to the table below. What is the equilibrium price and quantity in this market?
The following table gives data for the market for a product.
A. $6 and 60, respectively
B. $5 and 30, respectively
C. $3 and 30, respectively
D. $30 and 3, respectively
C. $3 and 30, respectively
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Assume that a comparable worth law is passed that determines that kindergarten teachers and bricklayers have comparable jobs; therefore, workers in both of these occupations should be paid the same wages
Assume that prior to the law, bricklayers were paid a higher wage than kindergarten teachers. Which of the following is the most likely result of the comparable worth law? A) There will be surplus in the market for bricklayers and a shortage in the market for kindergarten teachers. B) Some former bricklayers will become kindergarten teachers and some former kindergarten teachers will become bricklayers. C) The equilibrium wage will be the same for kindergarten teachers and bricklayers. D) There will be a shortage in the market for bricklayers and a surplus in the market for kindergarten teachers.
Refer to Figure 26-7. Suppose the Fed lowers its target for the federal funds rate. Using the static AD-AS model in the figure above, this situation would be depicted as a movement from
A) C to D. B) A to B. C) C to B. D) E to A. E) B to A.