The timeshare condominium in Florida you bought last year turned out to involve many extra costs and restrictions that were not apparent when you bought it. This is an example of
a. natural selection
b. moral hazard
c. hidden actions
d. open-access resources
e. hidden characteristics
E
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
The graph shown shows a subsidy to buyers. Before the subsidy is put in place, the buyers bought _____ units and paid _____ for each of them
A. 100; $46
B. 100; $30
C. 150; $40
D. 150; $24
The difference between normal and inferior goods is that
a. an increase in price will shift the demand curve for a normal good rightward and the demand curve for an inferior good leftward. b. if the price of a normal good increases, individuals who buy it are poorer; for inferior goods, the opposite is true. c. an inferior good is something that will not be demanded until quantities of the normal good have been exhausted. d. an increase in income will shift the demand curve for a normal good rightward and the demand curve for an inferior good leftward.
Which branch of economics is most likely to study differences in countries' growth rates?
A. normative economics B. macroeconomics C. experimental economics D. microeconomics