Question 11 Suppose, in the graph below, there is a price ceiling of $4. Then there is a shortage of: Not yet $10 answered S Points out of $9- 1.00 $8 Flag question $7 $6-- $5 $3 $2 D $1 SO 0 1 2 W. 4 5 6 7 8 9 10 Select one: O a. 2 units. O b. 4 units. O c. 6 units. O d. 0 units.Question 1 2 Not y at answered Points out of 1.00 \\7' Flag question Advances in tax software such as TurboTax influenced the income tax preparer market in the following way: Select one: Q a. "he story does not mention a change in the supply ofincome tax preparer. O b. "he demand for income tax preparers (the person who calculates and prepares your income tax return) rose and as a result, the wages for tax preparer has increased 0 c. "he demand for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, the wages for tax preparer has increased {:2- d. "he supply for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result. there are fewer tax preparerjobs. C) e "he demand for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, there are fewer tax preparerjobs. Question 13 Not yet answered Points outof 1.00 if\" Flag question What are the factors of production? Select one: C) a. land, economic capital, labor, entrepreneurship O b. land, labor, opportunity 0 c. money, resources, labor, management 0 d. knowledge and intellectual resources Question 14 Not yet answered Points out of 1.00 \\7' Flag queson A price floor when it is set Select one: Q a. below; excess demand C} b. above; excess supply C} c. below; excess supply .'\\_ \\_/ d. above; excess demand the equilibrium price creates Question 15 Not yet a nswered Points out of 1.00 \\7' Flag [1 uestion Dawnell is a skilled dancer. She is currently teaching modern dance full time for three high schools and makes $44,000 a year. She is now giving up herwork and joining a touring dance company forthe next two years. She will make $24000 a year-dancing. but gain much more in experience and connections. Dawnell's decision will result in Select one: r \\ t_,- a. a two year opportunity cost of $88,000 after leaving herteaching position. r \\ t_, b. a one year opportunity cost of $24000 after leaving her teaching position. c, c. a one year opportunity cost of $44000 after leaving her teaching position. 0 d. a two year opportunity cost of $40,000 after leaving herteaching position. Question 1 5 N ot y at answered Points outof 1.00 l? Flag question Production Possibility Frontier Country X A Watch\" -daily production 0 H N U E U! en 'Iul 0 O 5 10 15 20 25 HP! Ply- Daily production Consider the Production Possibility Frontier for country X producing 2 groups of goods. MP3 players and watches. The opportunity cost of moving from the combination of MP3 players and watches B to C is Select one: Q a. 2 watches. 0 b. 15 MP3 players 0 c. 5 MP3 players 0 d. 4 watches. Question 17 Every day, 500 airplanes in San Francisco incur an additional 30 minutes of airport delays when flying into or out of the airport. In Not yet Chicago, the delays amount to 15 minutes for 1,200 airplanes. If the price of time is $30/hour in San Francisco and $20/hour in answered Chicago, which airport incurs the largest opportunity cost? Points out of 1.00 Select one: Flag O a. The opportunity cost would be the same in either city. question O b. Too little information to determine. O c. San Francisco O d. Chicagomemo\" 18 Atterearthquakes hit the California coast and damaged tens of thousands of cars, there was a growing demand and need for NON"at automotive repair, glass replacement. dent repair and repainting. In the labor market for car repair: the demand would be represented answered br Points out of 1.00 Select one: 13' Flag r \\ question t_, a. car owners wanting car repairs and supply represented by automotive and glass repair and replacement companies. -" b. automotive body shops and glass repair and replacement companies, and supply represented by the automotive workers k_/' r \\ t_, c. Car buyers and the supply by car workers 0 d. body shop workers looking for work and supply is represented by the automotive body shops and glass repair companies providing jobs. Question 19 Not yet answered F'oints out of 1.00 if\" Flag question The slope of a budget constraint line is inuenced by Select one: Q a. how much one product costs compared to the other. C) b. the cost of production of the products considered 0 c. the tastes and preferences of the decisionmaker. C} d. how effectively one more of each of the two competing goods satises wants. Questi o n 2 0 Not yet answered Points outof 1.00 i? Flag question If all else remains constant and the values of two variables move in the same direction it indicates a Select one: C) a. positive slope relationship. 0 b. the values of the two variables will move in the same direction then move in opposite directions. 0 c. negative slope relationship. 0 d. inverse slope relationship