Refer to the information provided in Figure 7.10 below to answer the question(s) that follow. 
Figure 7.10Refer to Figure 7.10. If this firm's cost of capital is $10 per unit and its cost of labor is $5 per unit, the isocost line represents a total cost of
A. $1,000.
B. $2,000.
C. $3,000.
D. $4,000.
Answer: A
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Refer to Figure 13-1. Ceteris paribus, a decrease in personal income taxes would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
In which of the following examples cited in the text is there the least amount of evidence of the potential for input substitution?
A) Automobile production. B) Pipe organ production. C) French fry production. D) Production of health care services.
Deflation means a decrease in:
a. the rate of inflation. b. the prices of all products in the economy. c. homes, autos, and basic resources. d. the general level of prices in the economy.
The amount of money held in checking accounts is significantly greater than money in the form of currency
a. True b. False Indicate whether the statement is true or false