Suppose you are given the following information:  Q s = 100 + 3P Q d = 400 – 2P  where Qs is the quantity supplied, Qd is the quantity demanded and P is price.   1. The income elasticity of Abigail’s demand for CDs is 0,75. For Abigail Cds are a normal  good or an inferior good? Explain your answer.

Q: Free markets coordinate economic activity in such a way a unemployment. O True O False

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A: Full employment is reached where the all resources are used or employed efficiently.   

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Q: PW on total investment. AE on total investment. a. b. C. FW on total investment.

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Q: If monetary policy sets R equal to 0, what is the value of consumption spending C? Answer: 11.1

A:

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A: Below is the given information: TR = P × QMR = TRn-TRn-1∆QATC = TCQMC = TCn-TCn-1∆Q

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