When there is a tendency for a particular product to come into favor with additional consumers because other consumers have chosen to purchase the product
A) negative market feedback occurs.
B) positive market feedback occurs.
C) there is no dominant strategy.
D) a price war must result.
Answer: B
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Which of the following is most likely to throw an economy into a recession?
a. a reduction in the real interest rate b. an unanticipated increase in short-run aggregate supply c. an unanticipated increase in aggregate demand d. an unanticipated reduction in aggregate demand
Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the formAVC = a + bQ + cQ2and obtained the following results. Total fixed cost (TFC) at Straker Industries is $1,000. 
If Straker Industries produces 20 units of output, what is estimated total variable cost (TVC)?
A. $2,348 B. $1,498 C. $1,348 D. $4,428
The most widely used measure of income inequality is
A) the Bureau of Labor Statistics' cost-of-living index. B) the Laffer curve. C) the Lorenz curve. D) the Gemini coefficient.
Refer to the given data. If Alpha and Omega each was producing at alternative B before trade, the gain from specialization and trade would be:
A. 30 tons of wheat.
B. 15 tons of steel.
C. 30 tons of steel and 30 tons of wheat.
D. 60 tons of wheat and 60 tons of steel.