Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If three microwave ovens are produced, Micro Oven's total variable costs are
A. $150.
B. $200.
C. $300.
D. $500.
Answer: B
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If a firm with two large plants installs a large, custom built packing machine in each of its plants, the custom packing machine is an example of ________.
A) managerial diseconomies B) specialized capital C) a compensating wage differential D) geographic variation
When economists say an individual displays economizing behavior, they simply mean that she is
a. making a lot of money. b. buying only those products that are cheap and of low quality. c. learning how to run a business more effectively. d. seeking the lowest cost method to accomplish her objectives.
According to the quantity theory of money, an increase in the money supply leads to:
A. a decrease in prices, as there are more dollar bills spent on the same number of goods and services. B. an increase in prices, as there are more dollar bills spent on the same number of goods and services. C. an increase in prices, as there are the same dollar bills spent on a greater number of goods and services. D. a decrease in price, as there are the same dollar bills spent on a greater number of goods and services.
The expenditures or output approach to GDP measures it by summing:
a. Compensation of employees, rents, interest, dividends, corporate profits, proprietors' income, and indirect business taxes, and subtracting the consumption of fixed capital b. Compensation of employees, rents, interest, dividends, undistributed corporate profits, proprietors' income, indirect business taxes paid, consumption of fixed capital, and net foreign factor income earned in the United States c. The total spending for consumption, investment, net exports, and government purchases d. The total spending for consumption and government purchases, but subtracting public and private transfer payments