Consider the relationship between the price of gas and the quantity of gas consumed by drivers. If we are to consider the price of gas as the only factor affecting the quantity of gas consumed, while holding other factors such as drivers' incomes and tastes and preferences irrelevant, then we are invoking: (check all that apply)
a. economic generalizations.
b. the law of supply.
c. the other-things-equal assumption.
d. ceteris paribus.
e. marginal analysis.
c. the other-things-equal assumption.
d. ceteris paribus.
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At the local park there is a playground for children to use. While anyone is allowed to use the playground, it is often very busy, reducing the enjoyment of many of the children who use it. The playground is a
a. private good. b. club good. c. common resource. d. public good.
Suppose there is an oligopoly in the bottled cold coffee industry. Which of the following is probably the most significant barrier to entry?
a. The existing firms have expertise in using game theory strategies. b. No patents have been granted to the existing firms in the industry. c. The existing firms own most of the coffee bean plantations. d. There are no tariffs imposed on coffee bean imports.
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; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
The monetary policy transmission mechanism refers to the concept that monetary policy:
A. affects the economy in potentially many ways. B. only works through changes consumption and investment. C. works quickly. D. always seems to work the way central bankers think it will.