A company manufacturing shirts for a department store decides to create a new style of cotton shirt. The company would most likely produce shirts that will
A. sell at a high price.
B. be less costly to create.
C. use a nonrenewable resource.
D. satisfy the wants and needs of consumers.
Ans: B. be less costly to create.
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For a fixed inflation rate target, an increase in the inflation rate corresponds to a ________ the aggregate demand curve and an increase in exogenous spending corresponds to a ________ the aggregate demand curve.
A. movement up; shift right of B. shift left of; shift right of C. shift left of; movement up D. movement up; movement down
Which of these is a likely impact of a decrease in the price level in an economy on the aggregate supply in the economy?
a. An increase in the quantity of real GDP supplied b. A decrease in the quantity of real GDP supplied c. A leftward shift of the aggregate supply curve d. A rightward shift of the aggregate supply curve e. An increase in the slope of the aggregate supply curve
Refer to the table below. As stated in the first row, the income of the consumer (1) equals $20. The price of good X (Px) equals $3.00, and the price of good Y (Py) equals $2.00. Total utility derived from consuming X and Y is listed. What combination of goods X and Y will maximize utility subject to the consumer's budget constraint?
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If three microwave ovens are produced, average variable costs are
A. $50. B. $66.67. C. $100. D. indeterminate from this information.