If the demand for oranges falls, as a result, it is highly likely that the demand for:
A. orange juice will fall.
B. orange grove workers will fall.
C. apples will increase.
D. apple orchard workers will decrease.
B. orange grove workers will fall.
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If concerns about mad-cow disease impose economic losses on the perfectly competitive cattle ranchers, exit by the ranchers combined with no further changes in the demand for beef will force the price of beef to
A) decrease. B) not change. C) increase. D) fluctuate, with the trend being lower prices. E) probably change, but more information about the market supply of beef is needed to answer the question.
Alice Hanson Jones (1980) finds that private nonhuman physical wealth in New England in 1774 was 36.4 pounds sterling per capita. Thus, assuming a capital output ratio of 3:1, Jones estimates that per capita income in New England in 1774 equaled:
a. about 9 pounds sterling. b. about 12 pounds sterling. c. about 45 pounds sterling. d. about 145 pounds sterling.
For which of the following goods is the marginal benefit of search likely to be greatest?
a. a haircut b. a maid c. a jar of peanut butter d. a heart bypass e. a new lamp
The figure below shows a single consumer's demand for ice cream at the student union. 
If there are 1,000 students on campus during a regular semester, and each student's weekly demand for ice cream is shown above, then when the student union charges $3.00 per scoop, those 1,000 students purchase a total of ________ scoops per week.
A. 1,000 B. 400 C. 4,000 D. 2,000