06.06 FINAL EXAM

The bookstore is overstocked with old fantasy novels. It needs to get rid of the novels to make room for newly published fantasy novels. Based on the chart, what could the bookstore do to increase quantity demanded for fantasy novels?

Which scenario does this graph illustrate?

Look at the graph. A medical device company is selling a new diagnostic tool at the equilibrium price of $15. The company hires a marketing firm to run an advertising campaign to publicize recent positive findings regarding the effectiveness of the tool. Based on the graph, what would be the result?

Which of these are necessary capital investments for starting a free-range poultry farm?

Ming is starting a business and she would like her personal assets to be protected. Which organizational structures should she consider?

Bill and his wife, Vickie, want to start a company that develops training sessions for corporate clients. They would like to share the decisions, have few start-up costs, and protect their personal assets. Which of these would suit their needs best?

In the rural farming town of York Springs, Smith's was the only grocery store and Lehman's was the only animal feed mill. How would you describe these businesses?

Merv's Hardware, a small family-owned store in Middletown, sells a 100-pack of garnet sandpaper for $35. The Home Shoppe, a large retail hardware chain in neighboring Morristown, sells the same product for $29. Based on this scenario, what would you expect Merv's immediate response to be?

Tanya is opening a pie-making business. Buying all of the supplies and equipment has been expensive. What letter on the graph represents where Tanya is in the pie-making business?

Angela is a musician who writes short musical pieces for use in religious services and nonreligious festivals. There is a large anniversary celebration in her town in one month, and she has been asked to compose an original nonreligious piece. How might this affect her production possibility curve for new music?

Which of these is likely true, based on the charted data? OccupationSalaryAttorney$77,000Software Engineer$63,000Administrative assistant$33,000Elemetary school teacher$40,000Registered Nurse$53,000Construction project manager$72,000

Sayuri's Asian Café makes the best pot stickers in town. Sayuri tracks her production over the course of seven days. What would explain the low production on days 4 and 5?

Which of the following entities would most likely agree with Adam Smith's statement?

Look at the chart displaying the human development index (HDI) worldwide, which is linked to a high standard of living. Based on what you know about developing and developed countries in the world, which sentence is correct?

Two traditional economies are trying to industrialize. The leaders of the first favor a command economic system. The leaders of the second want to try more free market-based policies. Which of the following actions would likely occur in one but not the other industrializing economy?

In 2011, Cambodia had a GDP of $33.8 billion and a per capita GDP of $2,200. Nearly a third of its people lived below the poverty level, and average life expectancy was 62.5 years. Which of these additional factors would most support the conclusion that Cambodia is a developing economy rather than an emerging economy?

A country withholds funding from any college or university that does not accept women at the same rate as men. This action reflects the broad economic goal of

Given the data in the chart above, which of the following statements is true?

Given the data in the chart, over which country does the United States have a comparative advantage in oil production?

The United States raises taxes on imported electronic goods. This type of trade barrier is known as a(n)

Opponents of free trade zones might use this map to argue that free trade

Which of the following do consumers usually want to see rise with inflation?