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(01.09 MC)What should you do if your expenses exceed your income?

(01.09 LC)You need to decrease your spending to balance your budget. Which budget category is simplest to target for spending cuts?

(02.04 LC)Which phrase describes an oligopoly market?

(02.01 LC) In a circular-flow diagram, which economic player represents trade in imported and exported products?

(02.09 MC)Your community faces a challenging issue. You will serve on a volunteer committee to evaluate and make a recommendation to the city council. Which economic process will help your committee identify all potential solutions to the issue?

(02.04 LC)Which type of market has the least competition?

(01.02 MC)Kim decides to go to the zoo on Tuesday afternoon. On Tuesday, Kim’s boss assigns a new project due by the end of the day. Which of the following statements describes the opportunity cost of Kim using Tuesday to work on the project?

(01.05 MC)A new machine makes the packaging of cake mixes more efficient. Which statement describes how this improvement in technology will affect the market for cake mixes?

(02.06 MC)Which of the following is a reason that businesses invest in capital, such as technology and new equipment?

(02.08 MC)What role does government regulation serve in business?