Referring to Figure 1.5, the opportunity cost of producing the second unit of pizza is 
A. one unit of soda.
B. six units of soda.
C. three units of soda.
Answer: C
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Faced with the evidence of poor working conditions and low wages in the border maquiladoras, economists
A) shrug their shoulders and ignore the issue. B) agree that trade theory is thus proven hollow and internally inconsistent. C) argue that U.S. consumers should not consume lettuce. D) argue that the poor conditions and low wages are actually improvements for the Mexican workers, and may be cited as gains-from-trade. E) argue that Mexico's generally high overall productivity offsets these conditions.
Which of the following is true of a monopoly? a. Consumers fare better under a monopoly than under perfect competition. b. The output produced by a monopoly is allocatively efficient
c. Producer surplus is higher under monopoly than under perfect competition. d. The deadweight loss caused by a monopoly market structure is zero.
The Federal Reserve was created in 1913 after a series of bank failures in 1907
a. True b. False Indicate whether the statement is true or false
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.