Refer to the table below . Which product is most responsive to a change in income?
A. Product W
B. Product X
C. Product Y
D. Product Z
D. Product Z
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The Fed affects aggregate demand through monetary policy by changing
A) tax rates on only interest income and so influencing disposable income. B) government expenditure and so influencing the budget balance. C) the quantity of reserves and determining government expenditure. D) tax rates and influencing disposable income. E) the federal funds rate and the quantity of reserves.
If a decision maker uses marginal analysis, then the relevant costs are the
a. full costs of a particular activity or product. b. fixed costs which do not vary with the extra activity or output. c. profits obtained on the activity or product. d. average costs for a particular activity or product. e. additional costs of a particular activity or product.
Jessica makes photo frames. She spends $5 on the materials for each photo frame. She can create one photo frame in an hour. She earns $10 per hour at a part-time job at the local coffee shop. She can sell a photo frame for $30 each. An accountant would calculate the total cost for one photo frame to be
a. $5. b. $10. c. $15. d. $25.
Which of the following would be better purchased from one who specializes in making them or producing them yourself?
a. A remote control b. spaghetti sauces c. strawberry jam d. chocolate chip cookies