According to Figure 5.4, how many slices of pizza will one pizzeria be willing to supply at a market price of $1.50 a slice?
(A) 2,000
(B) 300
(C) 200
(D) 100
Ans: (C) 200
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Banks help to overcome the problem of asymmetric information by: a. lending to a single rich borrower and not diversifying their portfolio. b. acquiring expertise in evaluating the credit histories of borrowers. c. threatening borrowers
d. offering only one type of loan. e. providing information to lenders.
Answer the following statements true (T) or false (F)
1) For an open mixed economy, the equilibrium level of GDP is determined where S a + I g + X = T + G. 2) Equal increases in government expenditures and tax collections will leave the equilibrium GDP unchanged. 3) A $10 billion decrease in taxes will increase the equilibrium GDP by more than would a $10 billion increase in government expenditures. 4) A lump-sum tax causes the after-tax consumption schedule to be flatter than the before-tax consumption schedule.