Compared to 1929, total output in the U.S. in 2016 was approximately ________ times larger.

Figure 4.3 illustrates the demand for tacos. Assume that tacos and burritos are substitutes. A decrease in the price of burritos would bring about a movement from

A) point a to point c. B) point c to point b. C) D2 to D0. D) D1 to D2.

When a market is in equilibrium

A) everyone has all they want of the commodity in question. B) there is no shortage and no surplus at the equilibrium price. C) the number of buyers is exactly equal to the number of sellers. D) the supply curve has the same slope as the demand curve.