If the quantity of hearing aids demanded is represented by the equation QD = 40 - P then the corresponding price of hearing aids is represented by the equation
A) P = 0.25 - 4QD. B) P = QD + 40. C) P = 0.5QD + 20. D) P = 40 - QD.
D
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Which of the following is NOT an example of an opportunity cost?
A) By spending Thursday night studying for an economics exam, a student was unable to complete a homework assignment for calculus class. B) Because David used all of his vacation time to paint his house, he was unable to visit the Caribbean last year. C) Because Mary is now being paid a higher wage, she can afford to buy a new car even though she is moving into a bigger apartment. D) By choosing to attend college, Jean was not able to continue working as an electrician; as a result, she gave up more than $85,000 in earnings while she was in college.
A country has a comparative advantage in the good that it can produce
a. at a lower cost in terms of other goods. b. using fewer resources than its trading partner uses. c. at a lower cost than its trading partner can produce. d. using more resources than its trading partner uses.
Refer to the accompanying graph. If this firm is a price taker and the price of each unit of output is $15, then at this firm's profit-maximizing level of output, it will earn a ________ of ________. 
A. profit; $180 B. loss; $300 C. loss; $60 D. loss; $900
The implicit price paid by the government for surplus crops taken as collateral for loans to farmers is called
A. The interest rate. B. The loan rate. C. A countercyclical payment. D. A loan subsidy.