If an economy experiences increasing opportunity costs with respect to two goods, then the production possibilities curve between the two goods will be
A. Bowed outward until the two goods are equal, and then bowed inward.
B. A straight, downward-sloping line.
C. Bowed inward or convex from below.
D. Bowed outward or concave from below.
Answer: D
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A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III. 
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Which of the following is an example of a nondurable good?
a. ice cream b. silverware c. motorcycle d. chair
In the diagram, total product will be at a maximum at:
A. Q 3 units of labor. B. Q 2 units of labor. C. Q 1 units of labor. D. some point that cannot be determined with the above information.