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Study Guide Updates and Errata
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The following errors have been identified in the print version of the Study Guide for use with Economics, 18e.

Chapter 1
T/F Question 11, page 6:
The question should read "unlimited economic wants" not "scarce economic wants."

Multiple Choice Question 20, page 15:
The question should read:

"If the dependent variable (vertical axis) changes by 22 units when the independent variable (horizontal axis) changes by 12 units, then the slope of the line is."

Chapter 1 Appendix
T/F Question 10:
The correct answer is False

Chapter 3 Appendix
T/F Question 5, page 42:
The question should read:

"In a market for beef, the equilibrium price will increase..."

Chapter 4
Fill-in Question 7, page 53:
The correct answers are "stocks, bonds, limited, unlimited"

Chapter 6
T/F Answers, page 78:
The following answers in the True/False section should be corrected:
Question 5: correct answer is T
Question 7: correct answer is T
Question 8: correct answer is F

Chapter 7
Multiple Choice Question 10:
The correct answers are a. MU of product X; b. MU of product Y; c. price of X; d. price of Y

Chapter 13
Multiple Choice Question 14, page 179:
Option (b) should read: "decreasing the demand for labor"

Chapter 15
Multiple Choice Question 24, page 209:
Option (a) should read: "better off because he gets $2000 from selling the ITQ and he can earn $2000 in profit from fishing"

Chapter 16
Multiple Choice Question 9, page 219:
Option (b) should read: "$7 million"

Chapter 17
Answers, page 234:
The following answers should be corrected:
T/F Question 8 = True
Multiple Choice Question 17 = A

Chapter 24
Multiple Choice Question 20, page 304:
Option (c) should be $298 billion

Problem 1, part b (2), page 307:
The correct answer is 2546

Chapter 29
T/F Question 19, page 359:
The question should read: "In the short-run, an increase in aggregate demand will…"

Multiple Choice Question 20, page 360:
The question should read: "In the short-run, an increase in aggregate demand will increase"

T/F Question 11:
The correct answer is False

Chapter 32
Answers, page 397:
The following True/False answers should be corrected:
Question 6 = True
Question 13 = True

Chapter 34
Fill-in Question 14:
The correct answers are "less, more, inversely"

Chapter 37
Multiple Choice Questions 4-7, page 451:
In the "Nepal Production Possibilities Table" to accompany the questions, the value for Camel Hides in Column E should be 8.

Chapter 38
Multiple Choice Question 7:
The correct answer is A





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