The years from 1933 to 1937 are notable for ________
A) high unemployment, despite rapid growth of real output
B) low unemployment, despite sluggish output growth
C) persistent deflation, despite rising unemployment
D) the creation of the Federal Reserve System
E) none of the above
A
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If workers who make DVDs get a pay raise, the equilibrium price of a DVD ________ and the equilibrium quantity of DVDs ________
A) rises; increases B) rises; decreases C) falls; decreases D) falls; increases
Refer to Table 3-1. The table above shows the demand schedules for loose-leaf tea of two individuals (Sunil and Mia) and the rest of the market. If the price of loose-leaf tea rises from $3 to $4, the market quantity demanded would
A) decrease by 32 lbs. B) increase by 64 lbs. C) decrease by 64 lbs. D) increase by 32 lbs.