Refer to Scenario 17.3. If there is no insurance and a fire protection program in place, the expected loss from fire for this company is
A) $0.
B) $300.
C) $3,000.
D) $6,000.
E) $300,000.
B
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Assume that CDs are a normal good and that the price of stereo equipment falls while the labor costs of producing CDs increase. What will happen in the market for CDs?
What will be an ideal response?
The circular flow of economic activity is a model of the:
A. flow of goods, resources, payments, and expenditures between the sectors of the economy. B. influence of government on business behavior. C. influence of business on consumers. D. role of unions and government in the economy.
The AS/AD model implies that monetary policy should be used to:
A. keep the price level constant. B. keep the money supply growing at a constant rate. C. keep the interest rate constant. D. make adjustments so that savings equal investment.
Refer to the information provided in Figure 6.7 below to answer the question(s) that follow.
Figure 6.7Refer to Figure 6.7. Along budget constraint AB, the price of good X is $25 and the price of good Y is $18. If the price of Y decreases to $14, the budget constraint will
A. pivot in at point B. B. pivot in at point A. C. shift in parallel to AB. D. pivot out at point A.