The government institutes a price ceiling on turkey in the weeks before Thanksgiving.  Think like an economist: Which of the following would you expect to occur? (Hint: draw demand and supply curves!)

If you raise your price by 60% and quantity demanded falls by 40%, the elasticity of  demand for your product is 

Which of the following will NOT increase the demand (shift the demand curve) for  coffee? 

The concept of opportunity cost suggests that the cost to airlines of allowing employees to fly for free 

The real or opportunity cost of any action 

Trade between the United States and Thailand

You receive an internship offer from a well-known firm that will require you to spend the summer in Seattle. The internship prospect is very exciting, but you had looked forward to spending the summer on the beach where your sweetheart will be working as a lifeguard. Which of the following would reduce the opportunity cost of the internship?  

The U.S. can make 10 roses or 40 daffodils and Mexico can make 5 roses or 10  daffodils, therefore  

Anyone who claims that cheaper labor in one country enables that country to  produce everything at lower costs than another country, so that no trade is possible, is 

Tell me one thing that you know about chemistry.