A situation in which the price charged is less than society's opportunity cost would lead to
A. marginal cost pricing.
B. an efficient amount being produced.
C. too much being produced.
D. too little being produced.
Answer: C
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The period of negative growth in Real GDP is called a
A. expansion. B. recovery. C. recession.
The table above shows Tom's total utility from milkshakes and sodas. Tom's total budget for milkshakes and sodas is $20.00 per week. Milkshakes cost $2.00 each and sodas cost $.50 each
What quantity of milkshakes does Tom purchase at his consumer equilibrium? A) five B) six C) seven D) eight
In the forex, the demand for dollars will increase if:
A. foreigners wish to buy U.S. goods. B. foreigners wish to sell U.S. financial assets. C. interest rates are equal in the US and abroad. D. interest rates are lower in the U.S. relative to interest rates abroad.
Which of the following is used to illustrate an independent relationship between two variables?
A. An upward-sloping curve B. A downward-sloping curve C. A hill-shaped curve D. A horizontal or vertical line