Amanda can prepare a Thai meal for a group in 2 hours and can type a 10 page paper in the same amount of time. Morgan can prepare the meal in 3 hours. Morgan will be the more efficient typist as long as she can type the a paper in less than
a. 4 hours.
b. 3 hours.
c. 2 hours.
d. 1 hour.
b. 3 hours.
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The rate of interest that you pay on a home loan depends upon all of the following EXCEPT
A) the supply of houses in the real estate market. B) the length of the loan. C) your credit rating. D) handling charges or loan fees.
The fewer the substitutes for a good the greater will be the value of the price elasticity of demand coefficient
a. True b. False Indicate whether the statement is true or false
During 2008–2010, the U.S. economy showed signs of a(n)
A. mild recession. B. recessionary gap. C. inflationary gap. D. deflationary gap.
The market mechanism
A. Works through central planning by government. B. Eliminates market failures created by government. C. Works because prices serve as a means of communication between consumers and producers. D. Is not a very efficient means of communicating consumer demand to the producers of goods and services.