The fact that as snow accumulates, snow shovel sales rise, suggests the two are
A. neither directly correlated nor inversely correlated.
B. both directly correlated and inversely correlated.
C. inversely correlated.
D. directly correlated.
Answer: D
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Refer to the above table. At what quantity of labor does the law of diminishing marginal product set in ?
a. after 2 units b. after 6 units c. after 3 units d. after 1 unit
As price decreases along a downsloping linear demand curve, price elasticity of demand decreases.
Answer the following statement true (T) or false (F)
An input is indivisible if:
A. it cannot be increased to produce a larger quantity of output. B. it cannot be used as a substitute for other inputs in the production process. C. it is sufficiently inexpensive to purchase that firms will want to buy as much as they can. D. it cannot be scaled down to produce a smaller quantity of output.