Refer to the scenario above. If Maria borrows her parents' car and pays for only the gasoline, what is her total cost of driving to destination A?
A) $90
B) $250
C) $300
D) $340
D
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An informal definition of a recession is at least ________ consecutive quarters of declining real GDP.
A. six B. eight C. two D. four
Even though fixed costs do not affect the output decision, an increase in fixed costs results in a wider range of prices for which the firm operates at a loss
What will be an ideal response?
The price system
A) is the voluntary exchange system used in the United States. B) is old fashioned and is no longer used. C) is used only in countries that are developing. D) is used to set resource prices only.
When a country allows trade and becomes an importer of a good,
a. everyone in the country benefits. b. the gains of the winners exceed the losses of the losers. c. the losses of the losers exceed the gains of the winners. d. everyone in the country loses.