Refer to the accompanying figure. Relative to point B, at point C this restaurant is:
A. making fewer pizzas and more salads.
B. operating more efficiently.
C. making more pizzas and more salads.
D. making more pizzas and fewer salads.
Answer: D
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After graduating from college and getting a job you stop buying generic brand cereal. This suggests that generic brand cereal is a(n)
A. substitutable good. B. normal good. C. complementary good. D. inferior good.
Which of the following is a measure of economic growth that is most useful for comparing changes in standards of living?
A. increases in real GDP B. increases in real GDP per capita C. growth in nominal GDP D. decreases in the rate of unemployment
Whenever indifference curves have kinks, marginal willingness to pay curves have horizontal "flat spots".
Answer the following statement true (T) or false (F)
Darren loves to go to the movies, and he just learned that he can buy a ticket at a discounted price using his student ID. Darren now attends movies even more often. Which of the following factors of demand caused the change in Darren's behavior?
A. Income B. Price C. Preferences D. Number of buyers