The above figure shows the U.S. market for wheat. When there no international trade, the U.S. price of wheat is ________ per ton and the U.S. equilibrium quantity is ________ tons

Refer to Figure 3-6. The figure above represents the market for coffee grinders. Compare the conditions in the market when the price is $15 and when the price is $21. Which of the following describes how the market differs at these prices?

A) At each price there is a shortage; the shortage is greater at $15 than at $21. B) At each price there is a shortage; firms will raise the equilibrium price in order to eliminate the shortage. C) The difference between quantity supplied and quantity demanded is greater at $21 than at $15. D) At each price the demand for coffee grinders exceeds the supply of coffee grinders.

If it is assumed that capital is alike and freely mobile between economies, the Solow growth model

A) has no need of the recent attempts at improving it. B) suffers from the "exogeneity" problem. C) suffers from the "non-convergence" problem. D) suffers from the "incentives" problem.