The demand curve shows the relationship between quantity demanded and
A) income.
B) price.
C) supply.
D) quantity supplied.
B
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The figure above shows the market for college education. The efficient quantity of education is
A) 0 students. B) 4 million students. C) 6 million students. D) more than 6 million students. E) more than 4 million students and less than 6 million students.
Stock prices change when
A) expectations are based on past performance B) expectations change. C) accounting profits are zero. D) none of these choices.
Suppose the CPI has been overstating the increase in the cost of living by 1% for 25 years, the total impact of that 25 years later is
a. less than 25% b. exactly 25% c. negligible since it is only 1% per year d. more than 25% e. 24%
A nation benefits from international trade if it
a. exports more than it imports. b. imports more than it exports. c. imports goods for which it is a low opportunity cost producer. d. exports goods for which it is a low opportunity cost producer.