Refer to Figure 3-4. If the current market price is $25, the market will achieve equilibrium by
A) a price increase, increasing the quantity supplied and decreasing the quantity demanded.
B) a price decrease, decreasing the supply and increasing the demand.
C) a price increase, increasing the supply and decreasing the demand.
D) a price decrease, decreasing the quantity supplied and increasing the quantity demanded.
D
Economics
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If an economy produced 60 pounds of sushi at $12 per pound and 15 gallons of sake at $30 per gallon, the total value of these goods and services would be
A) $450. B) $720. C) $1,170. D) $2,700.
Economics
Over a year, the money supply in a nation grew by 6 percent, while velocity fell by 1 percent and real GDP rose by 2 percent. This results in an inflation over the year of ________ percent
A) 9 B) 7 C) 5 D) 3
Economics