Figure 3-1
Which of the following is true regarding the market for steak shown in ?
a.
If the price of steak were $2 per pound, producers would want to supply less steak than consumers would want to buy.
b.
If the price of steak were $4 per pound, producers would want to supply more steak than consumers would want to buy.
c.
If the price of steak were $3 per pound, producers would want to supply the same amount of steak that consumers would want to buy.
d.
All of the above are true regarding the market for steak shown in the figure.
d
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Goldin, Katz, and Bailey:
A. were politicians who fought for decades for the legalization of birth control. B. were the scientists who invented oral birth control in the early part of the twentieth century. C. are economists who have shown that the pill increased female labor force participation. D. were physicians who advocated against the creation and use of oral birth control and lobbied for its prohibition.
The aggregate demand curve is downward sloping because an increase in the general price level will cause the demand for money, interest rates, and investment to change in which of the following ways?
A) Increase/Increase/Increase B) Increase/Increase/Decrease C) Increase/Decrease/Increase D) Decrease/Increase/Decrease E) Decrease/Decrease/Increase