Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A
B. Falling; A; C
C. Falling; B: C
D. Rising; A; C
Answer: B
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Compare and contrast the effect of perfect competition to the effect of perfect price discrimination on:
a. efficiency. b. consumer surplus. c. economic profit in the long run.
The scarcity of physical resources such as fuel means:
a. we should keep our homes cooler in the winter b. we should keep our homes warmer in the summer c. we should live close to our jobs to conserve fuel d. all of these are true.
Which of the following would not be a prediction from economic labor theory regarding the wage of a field hand?
A. Wages would increase as the price of wheat increased. B. Wages would decrease as interest rates rose. C. Wages would increase with the imposition of restrictions on immigration . D. Wages would decrease when the wheat thrasher increased harvesting productivity.
What is true about government budget deficits and surpluses since 1940?
A) There have been more government budget surpluses than government budget deficits.
B) The number of government budget deficits is about the same as the number of government budget surpluses.
C) Balanced budgets have been more common than government budget deficits or government budget surpluses.
D) There have been more government budget deficits than government budget surpluses.