Refer to Figure 3-6. The figure above represents the market for coffee grinders. Compare the conditions in the market when the price is $15 and when the price is $21. Which of the following describes how the market differs at these prices?
A) At each price there is a shortage; the shortage is greater at $15 than at $21.
B) At each price there is a shortage; firms will raise the equilibrium price in order to eliminate the shortage.
C) The difference between quantity supplied and quantity demanded is greater at $21 than at $15.
D) At each price the demand for coffee grinders exceeds the supply of coffee grinders.
A
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Over the past two decades, the unemployment rates in
A) the Eurozone have been generally less than U.S. unemployment rates. B) the Eurozone have been generally greater than U.S. unemployment rates. C) the United Kingdom have almost always been much greater than the U.S. unemployment rates. D) Canada are less than the U.S. unemployment rates. E) Japan are much larger than those in the United States.
As the interest rate rises, the present value of a given perpetual stream of income
A) increases. B) decreases. C) does not change. D) approaches infinity.