Which of the following is the smallest portion of the market basket of goods that makes up the CPI?
A) food and beverages B) apparel
C) transportation D) housing
B
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A decrease in total revenue will result if
A) demand is inelastic and price increases. B) demand is elastic and price decreases. C) demand is inelastic and price decreases. D) demand is unitary elastic and price decreases.
Refer to the information provided in Figure 15.5 below to answer the question(s) that follow. 
Figure 15.5 Refer to Figure 15.5. Assume The Custom Sweater Shop has fixed costs of $500 and is a monopolistically competitive firm. At the profit-maximizing output in the short run, the firm ________ of $46.
A. earns a profit B. should set a price C. has an average total cost D. has an average variable cost
What is the journal entry to record the direct labor summarized on the labor distribution report?
a. debit to Finished Goods and credit to Payroll b. debit to Work-in-Process and credit to Payroll c. debit to Payroll and credit to Direct Labor d. debit to Payroll and credit to Cash
In the calculation of a country's GDP per capita, the entire population of the country is included, irrespective of age
a. True b. False Indicate whether the statement is true or false