The equilibrium price is  

Production possibilities:

If an economy is producing inside the production-possibilities curve, then:

Work Experience Using the table below which compares earnings of co-op and non-co-op students answer the following questions.   Does race have an influence on pay students can expect to earn (in this article)? _______________. If so, how much more can they expect to earn? Please express your answer in terms of percentages. You will need show your calculation. A number without a supporting calculation will receive no credit. 

The 20 percent of families with the lowest income in the U.S. receive approximately ______ percent of total income.

The inflation rate in 2012 was 2.1 percent and in 2013 it was 1.5 percent. This can best be described as: 

Imports:

If inflation is 10 percent per year and you receive no raise, then your:

Complete the following table.  Circle the value of GDP in the column “value of sales”. Answer 1-2 using this table. Firm   Value of Sales Value added         A Sheep Ranch 240   B Suit Manufacture 440   C Retail Outlet 700     Total 1380     What is the dollar value of GDP (using the data in the value of sales column)? _________________   What is the dollar value of GDP using the value added method (show your calculation here or on scratch paper).

In Table 3.1, if the price were $2 the market would