Four years after graduating from college you must decide if you want to go on as an accountant (your college major) or if you want to make a career change and become a singer. The cost of your education will matter for your decision
Indicate whether the statement is true or false
False. At this point the cost of your education represents a sunk cost and therefore should not figure into your decision. You incur it no matter what decision you make.
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Deposit insurance is a system in which the government guarantees that:
A. people can have deposits at commercial banks. B. commercial banks will not lose any deposits. C. depositors will not lose any money even if their bank goes bankrupt. D. commercial banks will not go bankrupt.
Two goods with a low cross elasticity of demand are competing in the same market.
Answer the following statement true (T) or false (F)
Monopolistically competitive firms advertise to attempt to
A) lower their average variable costs. B) build brand loyalty. C) lower barriers to entry. D) increase barriers to entry.