Refer to the above table. At a price of $15 per unit, which of the following would exist?

a. A shortage of 1,600 units
b. A surplus of 600 units
c. A shortage of 1,000 units
d. A surplus of 1,000 units

Ans: c. A shortage of 1,000 units

Economics

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Esme’s government provides grants to companies to help them pursue research opportunities. It also invests heavily in its own research and development efforts. How has this most likely changed Esme’s country?

a. Labor productivity and growth have been hindered. b. The need for human capital has been reduced. c. Productivity and economic growth have been improved. d. The standard of living has declined.

Economics

In the late 1990s, Brazil decided to reduce the value of its currency, the real, in order to boost exports and help the economy to move out of a recession. Argentina, the main trade competitor of Brazil in various products, was immediately affected by Brazil's decision, since it would:

A. decrease Argentina's imports and decrease Argentina's trade deficit. B. increase Argentina's exports and decrease Argentina's trade deficit. C. decrease Argentina's exports and increase Argentina's trade deficit. D. increase Argentina's imports and decrease Argentina's trade deficit.

Economics