The fact that resources tend to be specialized is one reason the production possibilities frontier is drawn
A. bowed outward.
B. bowed inward.
C. as a straight line (but not horizontal).
D. as a horizontal straight line.
Answer: A
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A sales tax on sellers of a good shifts the demand curve leftward because the tax raises the price that consumers must pay
Indicate whether the statement is true or false
Which of these examples is an example of price discrimination?
A. Seniors pay one price at the movie theater and adults pay more. B. Cereal manufacturers put discount coupons inside their cereal boxes. C. Wholesale prices differ from retail prices. D. Goods are marked down on sale.
Southern agriculture differed markedly from agriculture in the rest of the country before the Civil War in each of these respects EXCEPT
A. it had, on the average, larger farms. B. it had slavery. C. it had different major crops. D. it had more subsistence farming.
A set of actions that a firm takes to achieve a goal is the definition of a
A) business plan. B) business strategy. C) business prospectus. D) business goal.