Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, and Andy has an income of $14.50, how many units of potato chips will he consume?
A) 5
B) 6
C) 7
D) 8
E) none of the above
A
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Which of the following is one of the main reasons why China has recently received large amounts of foreign direct investment?
a. The prospect that multinational firms have of selling to the massive Chinese market b. The lack of environmental standards under the communist government of China c. The prospect of using forced child labor for cheaper production in this country d. The relative strength of the Chinese currency, which makes any investment there worthwhile e. The advanced southeast Asian highway system, which makes transportation extremely efficient
The base period is the
A. First year in which inflation figures were calculated. B. Absence of significant changes in the average price level. C. Time period when full employment is reached. D. Time period used for comparative analysis.
An accounting identity
A. is useless in analyzing balance of payments since one cannot tell from the identity whether an equilibrium exists or not. B. ensures a balance but does not ensure an equilibrium. C. applies only to plans of economic agents and not to their actual actions. D. ensures that all balances will be in equilibrium.
The figure above shows the market for annual influenza immunizations the United States
If the government intervenes in the market and provides a subsidy to providers of immunizations to immunize the efficient number of people, the amount of the subsidy is ________ per person. A) $25 B) $50 C) $35 D) $15 E) $40