Refer to the data provided in Table 11.1 below to answer the following question(s).
Table 11.1 
Refer to Table 11.1. If the interest rate is 5%, Nashbar Bicycle should
A. not fund any of the projects.
B. fund all of the projects except for the employee fitness center.
C. fund only the employee fitness center.
D. fund all of the projects.
Answer: D
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Because human wants are insatiable and unlimited while available resources are limited, people are said to face the problem of
A) microeconomics. B) social interest versus self-interest. C) macroeconomics. D) why to produce. E) scarcity.
For which of the following goods is the income elasticity of demand likely highest?
a. water b. diamonds c. hamburgers d. housing
Average variable costs:
A. decrease when output declines, and increase when output declines. B. increase when marginal product rises, and decrease when marginal product declines. C. decrease when marginal product rises, and increase when marginal product declines. D. increase when output declines, and decrease when output rises.
Which of the following is a measure of overall economic well-being for the United States?
A. The U.S. unemployment rate B. U.S. population growth C. The behavior of U.S. monopolies D. The price of fuel in Oregon