In the table above, the number of people officially unemployed is ________

A) 40 million
B) 6 million
C) 4 million
D) 2 million

D

Economics

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Internal improvements are important to a developing and growing economy

Indicate whether the statement is true or false

Economics

Suppose milk and cereal are compliments and the demand for milk is Qdm = 40 - 6Pm - 2Pc, where Qdm stands for millions of gallons of milk demanded, Pm stands for the price of milk and Pc stands for the price of cereal. The supply of milk is Qsm = 6Pm - 8, where Qsm stands for millions of gallons of milk supplied. The demand and supply of cereal are Qdc = 90 - 5Pc - Pm and Qsc = 5Pc - 10, respectively, where Qdc stands for millions of boxes of cereal demanded and Qsc stands for millions of boxes of cereal supplied. Suppose the government imposes a $2.00 per gallon tax on milk. The new general equilibrium price of cereal is:

A. $9.66. B. $9.76. C. $7.76. D. $11.76.

Economics