One HEADLINE article in the text suggests that most Americans do not trust the federal government to do the right thing. If they are correct, then government intervention results in:
A.) A decrease in opportunity costs.
B.) A less desirable mix of output.
C.) Market failure.
D.) Less unemployment.
B.) A less desirable mix of output.
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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
Which of the following is correct?
a. the Gini coefficient is a measure of income inequality based on the Lorenz curve b. developed countries tend to have a higher degree of income inequality than less developed countries c. both of the above d. neither of the above
You turn to the bond market page of a newspaper and look under the column headed "Close" and see that it says, "49 1/2" this indicates that
A) the closing price for the bond on this particular day is $495. B) the closing price for the bond on this particular day is $49.50. C) the closing price for the bond was $49.50 higher than on the previous trading day. D) the bond will mature on June 30, 2049.
A U.S. senator states: "The minimum wage should be raised to give people a decent living wage." This quote is an example of:
a. A positive economic statement b. A hypothesis c. The fallacy of composition d. A normative economic statement