Assume a lawyer signs a contingency fee contract with a plaintiff. The case ends up settling for $1 million, of which the plaintiff received $800,000. It is obvious this contract was efficient
A) True, the plaintiff received some money.
B) False, it is not clear whether another lawyer would have settled for more.
C) False, it is not clear whether the plaintiff's lawyer is very smart.
D) True, the plaintiff and lawyer reached an agreement and both lived up to their end of the agreement.
B
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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
To avoid double counting in the calculation of GDP, which types of goods are typically excluded from the calculation?
A) intermediate goods B) capital goods C) inventory goods D) nonmarket goods E) value-added goods
Which of the following is NOT an expression for the cost minimizing combination of inputs?
A) MRTS = MPL /MPK B) MPL/w = MPK/r C) MRTS = w/r D) MPL/MPK = w/r E) none of the above
A change in a nonprice factor of demand will cause:
A. a movement along the demand curve. B. a shift of the demand curve. C. the demand curve to rotate inward. D. the demand curve to rotate outward.