Which of the following is a type of economic analysis?
a. Association
b. Resources
c. None of these choices is a type of economic analysis.
d. Positive
d
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The demand for labor is said to be a derived demand because it comes from the demand for goods that labor produces. Suppose that strawberries are a labor-intensive good. An increase in the price of strawberries will ________ the demand for strawberries, which will ________ the demand for strawberry pickers
A) increase, increase B) increase, decrease C) decrease, increase D) decrease, decrease
The Stogie Shop, a cigar store in the mall, sells hand-rolled cigars for $10.00 and machine-made cigars for $2.50 each. What is the opportunity cost of buying a hand-rolled cigar?
A) 4 machine-made cigars B) one-quarter of a machine-made cigar C) $10.00 D) $2.50