To answer the question, refer to the following table showing a demand schedule: 
If price falls from $200 to $150,
A. an arrow representing the price effect points down and is longer than an arrow for the quantity effect.
B. an arrow representing the quantity effect points up and is shorter than an arrow for the price effect.
C. arrows representing the price and quantity effects both point down.
D. total revenue moves in the same direction as the arrow representing the quantity effect.
E. arrows representing the price and quantity effects both point up.
Answer: D
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In the United States, Texas ranks number one in the amount of installed megawatts for wind power generation and Florida ranks number one in the number of beach vacations. These facts point out that
A) Texas has a comparative advantage in wind power generation. B) Texas definitely has an absolute advantage in wind power generation. C) Florida should produce more wind energy. D) Florida can produce wind energy at a lower opportunity cost than can Texas.
The law of supply states that
a. as prices increase, quantity supplied decreases. b. price changes are always in the same direction as supply changes. c. a change in price causes a change in supply. d. price and quantity supplied are positively or directly related.
Considering the concept of rational behavior, which of the following requests will likely get the most help?
a. Could you call me at your convenience to give me tips about investing? b. Could you meet with me right away to give me investment advice? c. Could you provide me with a detailed list of investment advice as soon as possible? d. Could you drive 20 miles to my house to give me investment advice?
A flat or "fair" tax would increase the tax burden on the ___________ and _______________ and decrease the tax burden on the __________.
What will be an ideal response?