Refer to Table 3-3. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. At a price of $4, the quantity demanded in the market would be

With discretionary policy making, fiscal and monetary policies are usually

A) immune to any lag times that might counter their effectiveness. B) immune to any political overtones. C) set according to pre-established standards that do not take into account any changes in the economy. D) undertaken in response to or anticipation of some change in the overall economy.

Let D = demand, S = supply, P = equilibrium price, Q = equilibrium quantity. What happens in the market for solar panels if the government offers tax breaks to encourage manufacturers to produce more solar panels?

A) D increases, S no change, P and Q increase B) D no change, S increases, P decreases, Q decreases C) S increases, D no change, P decreases, Q increases D) D and S increase, P and Q decrease