Which of the following is the most likely to be a variable factor of production at a university?
A. The location of the university
B. The size of the student union
C. The number of librarians
D. The size of the football stadium
Answer: C
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The following graph depicts demand. 
The price elasticity of demand at point D is:
A. 2/5. B. 2. C. 1/2. D. 5/2.
Assume that Nation X can produce either 40 notepads or 80 pens, and that Nation Y can produce either 10 notepads or 40 pens. This implies that
A. Nation X has a comparative advantage in producing pens. B. Nation Y has a comparative advantage in producing notepads. C. Nation Y is the high-cost producer of pens. D. Nation X has a comparative advantage in producing notepads.
Explain how a currency drain affects the size of the money multiplier. In your explanation, suppose that a bank gains $1 million in new deposits and reserves
Further suppose that the desired reserve ratio is 10 percent and the currency drain is 50 percent.
The relationship between the quantity of inputs and the quantity of outputs is called a:
A. cost function. B. production function. C. profit function. D. resource function.