In economics, "demand" refers to
A. what people need instead of want without paying for it.
B. the satisfaction a good will provide a person.
C. the minimum amount of a good people need to survive.
D. how much of a good people will buy at any price during a given time period.
Answer: D
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Which of the following is concerned primarily with mergers?
a. The Sherman Antitrust Act. b. The Clayton Act. c. The Robinson-Patman Act. d. The Celler-Kefauver Act.
Suppose we shopped for a basket of goods in Year 1 and it cost $350 . Suppose the same basket of goods adds up to $385 in Year 2 . If we use Year 1 as a base year, what would be the Year 2 CPI?
a. 35. b. 90. c. 100. d. 110. e. 135.
United States’ economic activity is responsible for what percentage of worldwide shipping volume?
a. 20 percent b. 43 percent c. 28 percent d. 50 percent
Suppose the figure below illustrates the demand curve facing a monopolist. 
If the monopolist decreases its price from $12 to $10, its total revenue will ________.
A. decrease by $600 B. decrease by $1000 C. increase by $600 D. increase by $1000