If the unit price of a product is P and buyers buy a given quantity Q, then sellers would collect total revenues equal to:
A. P x Q
B. P + Q
C. P - Q
D. Q - P
A. P x Q
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The figure below shows a single consumer's demand for ice cream at the student union. 
If there are 1,000 students on campus during a regular semester, and each student's weekly demand for ice cream is shown above, then when the student union charges $3.00 per scoop, those 1,000 students purchase a total of ________ scoops per week.
A. 1,000 B. 400 C. 4,000 D. 2,000
An example of fiscal policy is
A) a reduction in government spending. B) an increase in autonomous spending by consumers. C) a reduction in investment spending by the private sector. D) an increase in Social Security spending by the elderly.
Which of the following could lead to an inward shift of the production possibilities frontier?
a) an increase in the cost of one good b) an increase in the utilization of resources c) a rise in the level of technology d) a law is passed whereby a mandatory retirement age of 60 is imposed, from an original age of 65 e) a decrease in the utilization of resources
The sum of all factor payments in the economy yields
A. gross domestic product. B. national income. C. disposable income. D. net domestic product.