The term efficiency involves achieving a goal as:
A. well as possible.
B. quickly as possible.
C. cheaply as possible.
D. steadily as possible.
Answer: C
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Most of the state and local government employees are in what area?
A. Education B. Highways C. Health care D. Administration
In the above figure, the shift in the demand curve from D to D2 can be the result of
A) an increase in the price of soda, a complement to pizza. B) a decrease in the supply of pizza that raises the price of pizza. C) an increase in income if pizza is a normal good. D) a change in quantity demanded. E) an increase in the price of a sub sandwich, a substitute for pizza.
John has decided to view the solar eclipse tomorrow. The eclipse is an example of
A) a good. B) an economic good. C) a service. D) entrepreneurship.
The law of supply describes the:
A. inverse relationship between income and quantity supplied. B. direct relationship between income and quantity supplied. C. inverse relationship between price and quantity supplied. D. direct relationship between price and quantity supplied.