Refer to Figure 8.8. At the market price of $8 per bushel, if this farmer produces 700 bushels of soybeans, the total revenue would be
A) $1,200.
B) $2,800.
C) $5,600.
D) $8,400.
C) $5,600.
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Refer to the figure above. A one unit increase in labor supply will lead to ________ in output in Country X than in Country Y
A) a smaller increase B) a smaller decrease C) a larger decrease D) a larger increase
Gloria works for a museum in a large city with many other museums. Her boss proposes that the museum should raise the price of admission to increase revenues. Gloria was a good student in her economics principles course. How should she advise her boss?
What will be an ideal response?
The portfolios of property and casualty insurance companies are generally concentrated in
A) liquid assets. B) mutual funds. C) primary securities. D) U.S. Treasury bonds.
Refer to Figure 12.4. The implementation of corrective policy by the central bank is designed to move the economy from
A) point A to point B. B) point B to point D. C) point D to point C. D) point C to point A.