If the demand elasticity for corn in the current marketing is -0.5 and you know that the demand curve is linear and it goes through 10 billion bushels at a price of $5.00 per bushel, then if production turns out to be 12 billion bushels, the price of corn will be

Refer to Table 8-5. The value of each automobile in gross domestic product equals

A) $7,000. B) $15,000. C) $18,000. D) $25,000.

During recent Global Economic Crises, consumers' real wealth in the U.S. declined as a result of

A) the stock market crash, pricking of the housing bubble, and the increased household borrowing. B) the expansionary fiscal policy, and the expansionary monetary policy. C) the lack of fiscal and monetary policy coordination. D) the banks' decision not to issue additional loans.