A university must decide if it should stop offering foreign language classes. This decision involves answering the economic question of "how to produce."

Indicate whether the statement is true or false


FALSE

Economics

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In the figure above, suppose the price of a pound of pecans is negatively related to the quantity of peanuts that farmers are willing to supply. If the price of pecans increases

A) the curve will shift rightward. B) the curve will shift leftward. C) there is a movement along the curve. D) the curve will be unaffected.

Economics

High income countries have tariff policies that generally have

A. equal tariff rates and quotas for all imported items. B. higher tariff and quota protection on high technology products that compete with domestic firms. C. lower tariff and quota protection on products in agriculture, and clothing and textiles. D. higher tariff and quota protection on products in agriculture, and clothing and textiles.

Economics

Which of the following countries concentrate power in a single legislative chamber?

A. unicameral B. bicameral C. unitary D. federal

Economics

Refer to the above table. Suppose the price of A increases from $10 to $12. What is the cross price elasticity of demand between A and C?

A. +7.06 B. -7.06 C. -0.292 D. +0.292

Economics