Assume a round of golf requires four hours of leisure time, and attending a concert requires two hours. If the price of a round of golf is $40 and the price of a concert is $80, characteristics, Joe will play:
A. Golf but not attend concerts, since golf is cheaper
B. Golf twice as often as he attends concerts
C. Less golf whenever he receives a large raise
D. Relatively less golf and attend relatively more concerts whenever his leisure time becomes more scarce
D. Relatively less golf and attend relatively more concerts whenever his leisure time becomes more scarce
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Use the figure below to answer the following question. 
For which graph is the supply perfectly inelastic?
A. graph 1 B. graph 2 C. graph 3 D. graph 4
Assume that a worker in a technology firm can produce 3 circuit boards in an hour. Due to subsequent innovation, he is now able to produce 6 circuit boards per hour. Other things remaining the same, the firm's supply curve is likely to:
A) shift to the left. B) shift to the right. C) become steeper. D) remain unchanged.
To understand why someone cannot get a job, it helps to know the three types of unemployment. List the three types of unemployment and explain what causes each type
What advice for finding a job would be appropriate for someone in each type of unemployment?
Which of the following are weaknesses of a command-based economic system?
a. It is not possible for goods to be allocated based on need rather than based on willingness and ability to pay. b. Producers have incentives to innovate because successful innovators are not rewarded with higher profit. c. Since price is set by central planners, price cannot freely adjust to resolve shortages or surpluses based on current supply and demand conditions. d. Answers b. and c. above are correct.