Author: Anonymous

Because economic resources are used to produce goods and services, they are called

In economics, the demand for a good refers to the amount of the good that people:

When producing jeans, which of the following are not a variable cost in the short run?

Which of the following is true about the chairman of the Federal Reserve Board of Governors?

Suppose the following data describe output in two different years: Item Year 1 Quantity Year 1 Price Year 2 Quantity Year 2 Price Oranges 15,000  $     0.20 20,000  $       0.25 Computers 600  $750.00 700  $  840.00 Video Games 8,000  $     0.75 10,000  $       1.00 Compute nominal GDP in year 2 (Enter as a numeric value e.g. 100000)

True or False.  Each state within the United States pays the same amount of unemployment benefits to unemployed workers.

Ceteris paribus, which of the following will cause the supply of milk shakes to increase?

The costs of lead contamination have been estimated to be $1 billion for medical care of those sickened by lead, plumbing repairs, and reduced earnings of those affected by lead. This $1 billion can best be classified as:

Market failure means that the economy is definitely producing:

Suppose the following data describe output in two different years: Item Year 1 Quantity Year 1 Price Year 2 Quantity Year 2 Price Oranges 15,000  $     0.20 20,000  $       0.25 Computers 600  $750.00 700  $  840.00 Video Games 8,000  $     0.75 10,000  $       1.00 Compute nominal GDP in year 2 (Enter as a numeric value e.g. 100000)