Entry to and exit from a(n) ________ market are ________.
A. oligopolistic; easy
B. contestable; difficult
C. contestable; easy
D. perfectly competitive; difficult
Answer: C
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
Health care debates illustrate how special interest groups can use their lobbying power to "control" the federal government to transfer wealth from one group of productive, income earning individuals to another group that may or may not be
productive. Indicate whether the statement is true or false
If an individual consumer is willing to pay $11 for one unit of a good but is able to purchase it for $7, then his or her consumer surplus from the purchase of that unit would be:
A. $4. B. $7. C. $11. D. $18.
Which of the following is correct?
A. Money is a resource, but real capital is not. B. Real capital is a resource, but money is not. C. Neither money nor real capital is a resource. D. Both money and real capital are resources.