"As you devote more hours to studying, your GPA increases." A graph of this relationship would show
A) a positive relationship.
B) a direct relationship.
C) an inverse relationship.
D) Both answers A and B are correct.
D
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The production possibilities frontier illustrates
a. the constant rate of technological progress. b. the fundamental concept of scarcity. c. the rapid growth of the U.S. economy. d. that guns always trade for butter.
Answer the next question(s) based on the following information for Manfred's Shoe Shine Parlor.Units of LaborTotal ProductMarginal ProductTotal Revenue00 11414$422 10 330 90435 539 1176 1267442132Assume Manfred hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively. If the wage rate is $11, how many workers will Manfred hire to maximize profits?
A. 1 B. 2 C. 3 D. 5
Suppose the market for grass seed can be expressed as Demand: QD = 100 - 2p Supply: QS = 3p At the market equilibrium, calculate the price elasticities of supply and demand. Use these numbers to predict the change in price resulting from a specific tax
What will be an ideal response?
If GDP grows at a rate of 3% per year, approximately how long will it take for GDP to double in size?
A) 12 years B) 21 years C) 23 years D) 35 years