Using the above table, the market clearing price for this product is
A. $5.
B. $2.
C. $4.
D. $3.
Answer: D
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Locating a point on a utilities possibilities frontier gives you information about
A) both equity and efficiency. B) equity but not efficiency. C) efficiency but not equity. D) profitability but not efficiency.
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Which of the following statements is true? The opportunity cost of a truck in Country A is:
A. 30 cars. B. 3 cars. C. 6 trucks. D. 5 cars.
All other things being equal, wages will be higher when
a. employers provide less capital for their workers to use. b. workers choose not to obtain signals like education. c. workers possess less human capital. d. the job has unpleasant or risky aspects.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.