The following equations represent the demand and supply for bottles of nail polish
QD = 25 - P
QS = -15 + 3P
What is the equilibrium price (P) and quantity (Q - in thousands) of bottles of nail polish?
A) P = $15; Q = 30 thousand B) P = $10; Q = 15 thousand
C) P = $20; Q = 5 thousand D) P = $5; Q = 20 thousand
B
Economics
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The domestic currency price of a representative foreign expenditure basket is
A) P, the domestic price level. B) E, the nominal exchange rate. C) P times E, the domestic price level times the domestic price level. D) P , the foreign price level. E) P times E, the foreign price level times the nominal exchange rate.
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