QUESTION 36Given the diagram below which of the following statements is true?54.504003.50300250200150100O123 45678 10 11 12 13H 15Quantity hosandh of doe per moneOA. When the price is $2 there is a surplus of 4 unitsO B. When the price is $1:50 the quantity demanded is 4 unitsOC When the price is $3.50 the quantity demanded is 12 unitsOD.When the price is $3.00 there is a surplus of 4 unitsQUESTION 37Which of the following is NOT a reason why countries impose tariffs on imports?O A. Protect domestic industriesOB. RetaliationOC National securityO D. None of the aboveQUESTION 38Which of the following statements is FALSE?OA. The GDP of a country equals the value of final output produced within the borders of that countryO B. The GNP of a country equals the value af final output produced using factors owned by residents of the country.OC GDP - net income received from abroad by residents of a nation + GNPO D.GDP represents the most commonly used measure of an economy's outputQUESTION 39Which of the following will NOT lead to an increase in real GDP?OA. On average, people in a country decide to increase the number of hours they work by 5%.B.Spending an homeland security increases in response to a lerrorist allack.OL The price level and nominal GDP increase by 106.O D.Due to lower interest rates by the Fed investors increase their investmentsPike per doam hage

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QUESTION 36 Given the diagram below which of the following statements is true? 54.50 400 300 250 200 130 100 •10 11 Ouantity hosand of deers per mon 0I23 12 13 14 1S OA When the price is $2 there is a surplus of 4 units O B. When the price is $1:50 the quantity demanded i 4 units OC When the price is $3.50 the quantity demanded is 12 units O D.When the price is $3.00 there is a surplus of 4 units Pke per doon hage

QUESTION 36 Given the diagram below which of the following statements is true? 54.50 400 300 250 200 130 100 •10 11 Ouantity hosand of deers per mon 0I23 12 13 14 1S OA When the price is $2 there is a surplus of 4 units O B. When the price is $1:50 the quantity demanded i 4 units OC When the price is $3.50 the quantity demanded is 12 units O D.When the price is $3.00 there is a surplus of 4 units Pke per doon hage

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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