Use the following table to answer the question below.Price per UnitQuantity Demanded per YearQuantity Supplied per Year$52,0000101,800300151,600600201,400900251,2001,200301,0001,500At a price of $15 per unit, which of the following would exist?
A. A surplus of 600 units.
B. A shortage of 1,000 units.
C. A surplus of 1,000 units.
D. A shortage of 1,600 units.
Answer: B
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Use the following cumulative investment schedule to answer the next question. Expected Rate of ReturnCumulative Amount of Investment (in billions)22%$11020150161801021052952380According to the cumulative investment table above,
A. $40 billion worth of investments have expected rates of return between 20% and 22%. B. $150 billion worth of investments have expected rates of return of 20% or lower. C. $260 billion worth of investments have expected rates of return higher than 20%. D. $150 billion worth of investments have expected rates of return exactly equal to 20%.
The saying "There's no such thing as a free lunch," applies
A) when there is some unemployment. B) on the production possibilities frontier. C) at all points inside the PPF. D) to unattainable combinations of goods and services. E) when more of one good can be produced without decreasing production of another.
According to the public-choice view,
a. laissez-fare is always the best economic policy. b. macroeconomic policymakers are only interested in the social good. c. policymakers often act in irrational ways or out of ignorance. d. politics often trump economic theory in policymaking. e. both c and d.
Reasons why a corporation could choose to produce in another country include all of the following except
a. lower labor costs b. avoid overseas transportation costs c. limited liability d. circumvent tariffs e. lower resource costs