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
Principles of Economics (MindTap Course List)
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Author:N. Gregory Mankiw
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Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
Problem 6PA
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![QUESTION 36
Given the diagram below which of the following statements is true?
54.50
400
3.50
300
250
200
150
100
O123 45678 10 11 12 13H 15
Quantity hosandh of doe per mone
OA. When the price is $2 there is a surplus of 4 units
O B. When the price is $1:50 the quantity demanded is 4 units
OC When the price is $3.50 the quantity demanded is 12 units
OD.
When the price is $3.00 there is a surplus of 4 units
QUESTION 37
Which of the following is NOT a reason why countries impose tariffs on imports?
O A. Protect domestic industries
OB. Retaliation
OC National security
O D. None of the above
QUESTION 38
Which of the following statements is FALSE?
OA. The GDP of a country equals the value of final output produced within the borders of that country
O 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 + GNP
O D.GDP represents the most commonly used measure of an economy's output
QUESTION 39
Which 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 investments
Pike per doam hage](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F39a6c793-b207-4945-b9e4-d211323cb51c%2F4b9340ac-64c0-4c43-9011-436c6487617f%2Fdeifnfk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 36
Given the diagram below which of the following statements is true?
54.50
400
3.50
300
250
200
150
100
O123 45678 10 11 12 13H 15
Quantity hosandh of doe per mone
OA. When the price is $2 there is a surplus of 4 units
O B. When the price is $1:50 the quantity demanded is 4 units
OC When the price is $3.50 the quantity demanded is 12 units
OD.
When the price is $3.00 there is a surplus of 4 units
QUESTION 37
Which of the following is NOT a reason why countries impose tariffs on imports?
O A. Protect domestic industries
OB. Retaliation
OC National security
O D. None of the above
QUESTION 38
Which of the following statements is FALSE?
OA. The GDP of a country equals the value of final output produced within the borders of that country
O 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 + GNP
O D.GDP represents the most commonly used measure of an economy's output
QUESTION 39
Which 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 investments
Pike per doam hage
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