An individual's demand curve for a good can be derived by measuring the quantities selected as
A) the price of the good changes.
B) the price of substitute goods changes.
C) income changes.
D) All of the above.
A
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Refer to the scenario above. Tom is likely to get a defective phone if:
A) he pays an amount of $80. B) he pays an amount of $100. C) he pays an amount of $40. D) he pays an amount of $120.
Average labor productivity is computed as the
A) ratio of industrial production to the employment rate. B) ratio of real output in manufacturing to the level of real GDP. C) ratio of real GDP to the unemployment rate. D) ratio of real GDP to the level of employment.
Trade occurs when a country has an absolute advantage and not just a comparative advantage over another country
a. True b. False Indicate whether the statement is true or false
Refer to the accompanying figure. If this economy is currently producing at point C, then the opportunity cost of providing 100 additional units of medical care would be:
A. 400 warheads. B. 100 warheads. C. 800 warheads. D. 200 warheads.