Manufacturers of packaged foods are not required to list nutritional contents on their labels

Indicate whether the statement is true or false


F Many packaged foods must have labels that include nutritional information.

Economics

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A majority of the world's exports are exported to

a. small countries b. less-developed countries c. poor countries d. industrially-developed countries e. the United States

Economics

Michael values a stainless steel refrigerator for his new house at $3,500, but he succeeds in buying one for $3,000 . Michael's willingness to pay is

a. $500. b. $3,000. c. $3,500. d. $6,500.

Economics

Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:

A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.

Economics

Suppose an oil cartel has an agreement to restrict members' production in order to maintain a price of $30 per barrel. A single cartel member may want to cheat and exceed its quota so that it can:

A. reduce its costs. B. charge higher prices. C. make demand more inelastic. D. earn a bigger profit.

Economics