A variable that tends to move in advance of aggregate economic activity is called
A) a leading variable.
B) a coincident variable.
C) a lagging variable.
D) an acyclical variable.
A
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Scooters and bicycles are substitutes. Suppose that the price of a bicycle falls. Which of the figures above best illustrates how this fall in price affects the demand curve for scooters?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the above answers is correct because the change in the price of a bicycle will affect the supply curve not the demand curve.
The difference between a capital good and a consumer good depends on
a. the purpose for which it is used. b. how it was produced. c. when it was produced. d. how quickly it is used up.
If goods are produced abroad but consumed domestically,
a. those goods are termed imports b. international trade has not occurred c. the domestic economy is economically inefficient d. there are no gains from specialization e. those goods are termed exports
Refer to the information provided in Figure 7.8 below to answer the question(s) that follow. 
Figure 7.8Refer to Figure 7.8. If the price of capital is $40, then along isocost line AB total cost is
A. $300. B. $1,200. C. $2,400. D. indeterminate from this information, as the price of labor is not given.