There are five hundred buyers in the market for cheese. If we know each individual's demand curves, to find the market demand, we must
A) multiply the price times quantity for each buyer and then add the resulting products together.
B) add the quantities that each buyer will purchase at every price.
C) add the prices that each buyer will pay at every quantity.
D) average the price each buyer is willing to pay for each given quantity.
E) give up because there is no way to find the market demand.
B
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Over the long-run, fluctuations in the growth rate in output are primarily driven by fluctuations in
a. investment in capital. b. educational attainment. c. fluctuations in the labor force. d. fluctuations in labor productivity.
That part of disposable income not spent on consumption is defined as:
a. transitory disposable income. b. permanent disposable income. c. disposable income. d. autonomous consumption. e. saving.