To calculate the point elasticity of demand, a manager must know
A) where the supply curve intersects the demand curve.
B) two points on the demand curve.
C) information about the entire demand curve.
D) whether or not the demand curve is linear.
C
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Consider the labor market below. 
If a minimum wage of $12 per hour is imposed in this labor market, then:
A. 400 workers will earn $12 an hour. B. total earnings will rise C. worker surplus will fall. D. 200 workers will lose their jobs.
A statement of assets and liabilities of any business entity is called
A) a balance sheet. B) an income statement. C) a statement of net worth. D) a cash flow statement.
Businesses go to credit markets in order to
A) obtain capital. B) obtain financial assets that can be used to buy capital. C) obtain capital so they can earn rents. D) channel their savings into investments.
The slope of the budget constraint is determined by the
a. relative price of the goods measured on the axes. b. relative price of the goods measured on the axes and the consumer's income. c. endowment of productive resources. d. preferences of the consumer.