A commercial bakery makes white bread and wheat bread. Therefore, a decrease in the market price of white bread tends to
A) increase the demand for wheat bread.
B) increase the demand for white bread.
C) increase the baker's cost of making wheat bread.
D) decrease the baker's cost of making wheat bread.
D
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The graph shown shows a subsidy to buyers. Before the subsidy is put in place, the buyers bought ________ units and paid ________ for each of them.
A. 150; $24 B. 100; $30 C. 150; $40 D. 100; $46
The study of microeconomic theory focuses on
A. individual behavior in the economy B. Operation of the entire economy. C. Interaction of international trade and domestic production of goods and services. D. Role of the banking system in the economy.
If your wealth is held as currency, in checking accounts or other assets that you can convert to money on short notice, your assets are considered to be:
A. abundant. B. fast moving. C. interest bearing. D. liquid.
If a country is experiencing a civil war among its people and therefore cannot afford to improve its infrastructure (thereby inhibiting exports), it will impact its economy by
A. increasing aggregate supply. B. decreasing aggregate supply. C. decreasing aggregate demand. D. increasing aggregate demand.