The above table shows the demand schedule and supply schedule for chocolate chip cookies. If the price is $4.00 per pound, there is a
A) shortage of 2 pounds of chocolate chip cookies.
B) shortage of 3 pounds of chocolate chip cookies.
C) shortage of 5 pounds of chocolate chip cookies.
D) surplus of 3 pounds of chocolate chip cookies.
B
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Buffalo Wild Wings CEO Sally Smith decided to spend more than $200 million on restaurant renovations in an attempt to attract more lunch customers and more families
Like CEOs of other monopolistically competitive firms, Smith knew that without innovating A) her firm would become perfectly competitive. B) her firm had no chance of remaining in business. C) her firm would eventually earn an accounting profit of zero. D) her firm's profits would eventually be competed away by other firms.
As of 2008, with which of the following countries did the U.S. not have a preferential trade agreement?
A) Mexico. B) Canada. C) Russia. D) Israel.
The policy lever most commonly used by the Fed is:
A. Changes in the discount rate. B. Buying and selling bonds. C. Changes in the reserve requirement. D. Foreign-exchange operations.
A French worker can produce either 4 barrels of wine or 16 shirts a week; and Italian worker can produce either 10 barrels of wine or 20 shirts a week.
A. After the countries begin to trade, one barrel of wine will cost between four and eight shirts. B. France has an absolute advantage in both wine and shirts. C. France will export shirts and import wine. D. France has an absolute advantage in making shirts.