The branch of economics that applies the principles and methodology of economics to the operation of the political process is known as
a. private choice analysis.
b. public choice analysis.
c. government operations analysis.
d. policy preference analysis.
B
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When the government deliberately alters its level of spending and/or taxes in order to achieve specific national economic goals, it is exercising
A) a laissez-faire policy. B) discretionary fiscal policy. C) monetary policy. D) a Ricardian policy.
Refer to the figure above. If the monopolist faces a constant marginal cost of $6, at what price should it sell its output to maximize profits?
A) $2 B) $6 C) $10 D) $12
According to international trade theory, a country should:
A. import goods in which it has an absolute advantage. B. specialize in the production of the good in which it has an absolute disadvantage. C. export goods when it has either a comparative or absolute disadvantage in producing them. D. specialize in the production of the good in which they have a comparative advantage.
Refer to the information provided in Figure 13.3 below to answer the question(s) that follow. 
Figure 13.3Refer to Figure 13.3. This firm's ________ will be maximized at a price of $10.
A. marginal revenue B. total revenue C. marginal cost D. profit