Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
a)
Which of the following is typically not used to evaluate economic policy?
O Stability
O
O Kosher-Index
O Equity
b)
Consider following demand and supply function for a market: D: P-280-2Q: S: P=30+8Q. The market
Q-45
Q = 55
Q-35
Q-25
c)
Consider the market for wheat, which currently is in equilibrium. Covid-19 related social distancing requirements make production more expensive. This will lead to
O An increase in
O A decrease in equilibrium price and an increase in equilibrium quantity
O An increase in equilibrium price and a decrease in equilibrium quantity
O A decrease in equilibrium price and quantity
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