The determination of prices in the market for automobiles is primarily a concern of:
a. positive economics
b. normative economics.
c. microeconomics.
d. macroeconomics.
c
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Electronic banking does not include
a. credit cards. b. debit cards. c. smart cards. d. direct deposit of paychecks.
There is no trade-off between efficiency and equality.
Answer the following statement true (T) or false (F)
Exhibit 3-8 Demand and Supply Data for Video Games ? Price Quantity Demanded of Video Games Quantity Supplied of Video Games $75 400 900 70 450 850 65 500 800 60 550 750 55 600 700 50 650 650 45 700 600 40 750 550 ? In Exhibit 3-8, if there is a surplus of video games of 200 units, the current price of video games must be:
A. $60. B. $50. C. $45. D. $40.
(Consider This) Susie purchased a nonrefundable ticket to a soccer match for $20. It will cost her $10 worth of gas and wear and tear to drive to the match and $5 to park her car. On the day of the match, Susie's boss offers her $100 to come to work
instead. In considering what to do, which of the above would be considered a sunk cost? A. The $20 ticket to the match. B. The $10 cost to drive to the match. C. The $5 cost to park at the stadium. D. The $100 offered by Susie's boss.