Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward
B. Short-run aggregate supply shifting upward
C. Short-run aggregate supply shifting downward
D. Aggregate demand shifting leftward
Answer: B
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All games involve which of the following?
A. A predictable outcome B. Payoffs C. Full information D. A game master
Brand names such as "Coca Cola" or "Nike"
a. raise the cost of goods because they require advertising to make consumers aware of the brand name and, therefore, generally increase the price of products to consumers without producing any benefit to them. b. generally convey little information about a product to consumers. c. benefit consumers by assuring them of a known quality level when they buy a product that they have little previous first-hand knowledge about. d. provide the most value to consumers for goods that are repeat-purchase items.
Price discrimination refers to a system of pricing
a. based on buyer income rather than buyer demand conditions, so the poor pay more than the rich. b. that is always more profitable than simple "single-price" pricing. c. that forces customers who require more service to pay higher prices. d. where consumer groups with a more elastic demand for the product are charged lower prices.
To reduce the principal-agent problem
A) boards-of-directors can tie the salaries of top management to the profitability of the firm. B) managers can inflate profits on financial statements. C) managers can take on more risk than they disclose to investors. D) managers can hide liabilities by not disclosing them on financial statements.