If firms were forced to take into account the full social costs of production, then
A) output would decrease but pollution levels would probably remain at the same levels.
B) output would be unaffected but pollution levels would come down.
C) output and pollution levels would decrease.
D) output could be increased and pollution levels would decrease.
Answer: C
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Use the following graph for a competitive market for a product where the government has set a price floor of 0C to answer the question below. 
What quantity will the sellers be able to sell after the imposition of the price floor?
A. 0G B. CB C. 0F D. 0E
The probability of being detected after committing a murder in Richland is 0.8, and if detected the murderer is imprisoned for a minimum of 10 years. What is the expected punishment in this case?
A) 2 years B) 8 years C) 12 years D) 10 years
The Asian Development Bank has been investing in education and training programs in the developing economies of Asia over the last five years. As a result of this investment, economists who adhere to the human capital view of education would predict
a. rising wages as labor productivity is enhanced. b. falling wages as the labor market is saturated with too many educated workers. c. the marginal productivity of capital would not be affected. d. the marginal productivity of labor would not be affected.
According to the above table, which assumes that opportunity costs of producing goods X and Y are constant, the opportunity cost of producing one unit of Good Y is ________ units of Good X for Sherry and ________ units of Good X for Holly.
A. 1/2; 2 1/2 B. 25; 10 C. 2; 2/5 D. 50; 40