Recall the Application about the use of fertilizer and its impact on crop yields to answer the following question(s). The table is taken from this Application.
Bags of Fertilizer Bushels of Corn0851120213531444147Refer to the table above. The farmer began to experience diminishing returns after applying how many bags of fertilizer?
A. 1
B. 2
C. 3
D. 4
Answer: A
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Examples of assets that are included in household wealth would be
a. stocks, bonds, and savings accounts. b. stocks, loans owed, and savings accounts. c. stocks, bonds, and mortgages. d. stocks, credit cards, and savings accounts.
The economy has been compared to a supertanker on the ocean to make the point that
A) the larger the economy, the less it is influenced by other economies (the weather). B) it takes time for a policy change to overcome the economy's momentum and change its direction (as in steering an immense ship). C) a random shock affects all parts of the economy in the same way (as all of a ship rises or falls together with the waves). D) the larger the economy, the worse it is for the rest of the world when it goes into a recession (there is enough oil in a supertanker for a spill to stretch across the ocean).
When competition is present and private ownership rights are clearly defined and securely enforced,
What will be an ideal response?
Exhibit 3-8 Demand and Supply Data for Video Games ? Price Quantity Demanded of Video Games Quantity Supplied of Video Games $75 400 900 70 450 850 65 500 800 60 550 750 55 600 700 50 650 650 45 700 600 40 750 550 ? In Exhibit 3-8, if there is a shortage of video games of 200 units, the current price of video games must be:
A. $60. B. $55. C. $40. D. $45.