Which of the following is most likely to be over consumed?
A. Sparkling water
B. Tap water
C. Bottled water
D. Free water
D. Free water
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The demand for labor is derived from the demand for final goods which that labor is used to produce
a. True b. False Indicate whether the statement is true or false
Which of the following statements best describes excess supply, or surplus?
a. The area between the supply and demand curves above the equilibrium point is called excess supply, or surplus. b. The area between the supply and demand curves below the equilibrium point is called excess supply, or surplus. c. The area between the supply and demand curves to the right of the equilibrium point is called excess supply, or surplus. d. The area between the supply and demand curves to the left of the equilibrium point is called excess supply, or surplus.
Which of the following statements best describes the relationship between GDP and standard of living?
a. GDP does not understate or overstate the standard of living. b. GDP may understate the standard of living. c. GDP may understate or overstate the standard of living. d. GDP may understate the standard of living.
Of the following, the most likely example of price discrimination is when:
A. restaurants charge different prices for chicken and beef. B. hotels charge different rates for the same rooms when conventions are held. C. supermarkets charge different prices for oranges and apples. D. a firm sells different shoes for different prices.