Refer to the table above. If the market for notebooks is perfectly competitive, the equilibrium quantity is:

Which of the following was illustrated by the majority voting decisions witnessed during the Great Depression?

(a) If the U.S. wants to get the most from its resources, the pricing of goods and allocation of investment should be decided by majority voting. (b) In a representative democracy, majority voting will assure that approved projects are productive. (c) There are good reasons to expect that majority voting will sometimes result in the approval of projects that are inefficient. (d) Private firms can force their customers to pay for products they produce, but the government cannot do so.

To calculate GDP:

A. add the quantity of all goods and services sold in an economy in a year. B. add the quantity of all final goods and services produced in an economy in a year. C. weight the output of each good and service produced in an economy in a year by its price in that year and then total the result. D. weight the output of each final good and service produced in an economy in a year by its price in that year and then total the result.