A demand curve is ________ sloping because ________.
A. upward; people prefer to purchase high-quality consumer goods
B. downward; reservation prices tend to fall over time
C. downward; fewer people are willing to buy an item at higher prices
D. downward; of increasing opportunity costs
Answer: C
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The above figure shows the market for laptops. Which of the following causes a movement from B to A?
A) an increase in the number of laptop manufactures and sellers B) an increase in the price of laptops C) an increase in the productivity of the workers manufacturing laptops D) a decrease in the price of laptops E) an increase in the cost of hard drives
Business-related expenses of employees are higher than they otherwise would be due to most business-related expenses being _____
a. frivolous b. accounted for at personal tax rates, not corporate tax rates c. a tax credit for the individual d. nontaxable fringe benefits
The Federal Open Market Committee (FOMC)
A) determines the tax policy of the government. B) influences the future growth of the money supply. C) oversees all transactions on the stock market. D) lends to the least credit-worthy customers.
Which of the following factors is the most significant in determining the pattern of international trade?
a. absolute advantage b. diplomatic expertise c. comparative advantage d. overpowering military strength e. a country's size relative to another country's