Consider a point on a market demand curve. The point represents
A) a single price and the quantity demanded by an individual buyer.
B) a single price and the sum of the quantities demanded by all buyers.
C) various prices and various quantities demanded.
D) a single price and the quantity demanded by an individual buyer at that price and all other prices.
E) a and c
B
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If the government removes a binding price floor from a market, then the price received by sellers will
a. decrease, and the quantity exchanged in the market will decrease. b. decrease, and the quantity exchanged in the market will increase. c. increase, and the quantity exchanged in the market will decrease. d. increase, and the quantity exchanged in the market will increase.
Which of the following could be considered a goal of policy to address poverty and inequality?
A. Economic development B. Safety nets C. Redistribution D. All of these are goals of policy to address poverty and inequality.