1. Recall times when you have been so absorbed in what you were doing that you hardly noticed the time. What were you doing?

1. which of the following factors would cause demand-pull inflation? a. serious crop failure b. significant decrease in the supply of oil c. increase in the money supply d. increase in the cost of raw materials for firms e. reduction in imports allowed into the country

How can firms use marginal analysis to determine the price of a product? a) profit maximization can occur when the marginal cost exceeds the marginal revenue. b) the total cost of production can determine the individual unit price of a product. c) marginal analysis can be used to determine at what price profit maximization occurs. d) firms can calculate the marginal cost of a product and set the price lower than the cost.

Which best explains why the number of states in the world increased significantly between 1985 and 1995? the map of southeast asia was redrawn, and new countries were formed. new states were formed when the soviet union collapsed. many african states received independence from their colonizers. communist countries seeking to spread their influence created new satellite states. civil wars in central america fueled the creation of new states.