The demand for a particular good depends on variables such as:
A. consumer income.
B. price of substitutes.
C. price of complements.
D. All of these.
Answer: D
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All else equal, as the price of oil falls, potential profits from producing oil ________ which ________ oil companies to look for additional sources of oil
A) increase; encourages B) increase; discourages C) decrease; encourages D) decrease; discourages
In a market, the rationing function of prices results in
A. long waiting lines. B. a shortage or surplus. C. a price ceiling. D. an equilibrium between supply and demand.
A Lorenz curve that represents an unequal income distribution is
A. a vertical line. B. a straight line starting at 100% C. a straight line starting at the origin. D. a bowed curved.
Refer to the information provided in Figure 7.10 below to answer the question(s) that follow. 
Figure 7.10Refer to Figure 7.10. At Point C, the slope of q2 = 200 is
A. -2. B. -1/2. C. -1. D. indeterminate from this information.