The economizing process (choosing from among alternatives to ...

[appyboo]

The economizing process (choosing from among alternatives to maximize benefits)
 
  A) applies only to consumers.
  B) applies only to privately-owned firms.
  C) applies only to producers.
  D) is the same for producers as it is for consumers.

Question 2

If oil prices increase, then in the short run, real GDP will ________ and the price level will ________.
 
  A) increase; rise
  B) increase; fall
  C) decrease; rise
  D) decrease; fall
  E) not change; rise

[blazinlyss]

Answer to Question 1

D

Answer to Question 2

C

[appyboo]

Thanks for the timely response, appreciate it

[phuda]

YES! Correct, THANKS for helping me on my review