Use the Following Information to Answer the Following Questions

question 105

Multiple Choice

Use the following information to answer the following questions.
Market for used cars:
Demand: Q_d = 154,000 - 86P
Supply: Q_s = -100 + 14P
-What would be the quantity supplied if a price floor is set at $100?

• A) 100
• B) 154,100
• C) 1,541
• D) 21,474
• E) 1,300

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Definitions:

Recession

A period of significant decline in economic activity spread across the economy, lasting more than a few months.

Money Supply

The total amount of monetary assets available in an economy at a given time, including cash, coins, and balances held in bank accounts.

Net Exports

The value of a country's total exports minus the value of its total imports. It is an important indicator of a country's economic health.

Lean Against

A strategy used in financial markets to resist market trends by trading counter to the current direction.