Refer to Table 8.2. If Sherry produces five pairs of earrings, her total costs are
A) $320.
B) $360.
C) $370.
D) $400.
C) $370.
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Investments that a bank makes are known as:
A) deposits. B) liabilities. C) assets. D) capital.
A competitive market is in equilibrium. Then there is a decrease in demand and a decrease in supply. The equilibrium price ________, and the equilibrium quantity ________
A) rises; decreases B) perhaps changes but we can't say if it rises, falls, or stays the same; decreases C) falls; increases D) perhaps changes but we can't say if it rises, falls, or stays the same; increases E) rises; increases
An outward shift of the production possibilities curve represents
A) economic contraction. B) economic growth. C) economic recession. D) economic inflation.
A higher price for batteries would result in a(n)
a. increase in the demand for flashlights. b. decrease in the demand for flashlights. c. increase in the demand for batteries. d. decrease in the demand for batteries.