Refer to the figure below. If Laura and Chris are the only two consumers in this market, then the market demand for hamburger will be 9 pounds per week when the price of hamburger is: 

A. $2.50 per pound
B. $1.50 per pound
C. $1.00 per pound
D. $2.00 per pound

Answer: C

Economics

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If wealthy U.S. consumers save most of their tax cut, this means that, compared to government spending changes,

a. tax changes would have a higher multiplier effect. b. tax changes would have a weaker multiplier effect. c. government spending would have a weaker multiplier effect. d. U.S. consumers would spend all of their tax cut.

Economics

Figure 7-8


Of the graphs in Figure 7-8, which represents fixed cost?

a.
1

b.
2

c.
3

d.
4

Economics