Airline ticket = intermediate good, consumprtion expenditure
New ariplanes bought by Southwest = final good, investment
Cheese bought by Domino's - Intermediate good, consumption expenditure
The purchase of a new iPhone for the Vic
Instructor: Professor Tom Lehman, Ph.D.
ECO212 Practice Exam 1
Identify the choice that best completes the statement or answers the question.
1. Scarcity exists when
a. there is less than an infinite amount
Airline ticket bought by a student intermediate good ; consumption expenditure
New airplanes bought by Southwest- final good; investment
Cheese bought by Dominoes- intermediate good ; consumption expenditure
Purchase of a new p
Running Header: MARKET STRUCTURES EXPLAINED
Market Structures Explained
Indiana Wesleyan University
ECON-511 Business Economics
Professor Tommy Johns
January 7, 2015
I have read and understand the plagiarism policy as outlined in the syll
Dropbox 2.3 Questions A to D
Output per Hour Worked
a. Which country has an absolute advantage in cheese? In cars?
France has the absolute advantage in cheese because its productivity is higher in
Which of the following circumstances would cause a decrease in the
price of a good?
An increasing shift in the supply of a good and no shift in demand
A decreasing shift in the supply of a good and no shift in demand