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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What will be an ideal response?
The above figure shows Dana's marginal benefit curve for ice cream. If the price of ice cream is $2 per gallon, then Dana's consumer surplus from the 4th gallon
A) is greater than her consumer surplus from the 8th gallon. B) is the same as her consumer surplus from the 8th gallon. C) is less than her consumer surplus from the 8th gallon. D) could be greater than, equal to, or less than the consumer surplus from the 8th gallon.
Which of the following would not shift the supply curve for mp3 players?
a. an increase in the price of mp3 players b. a decrease in the number of sellers of mp3 players c. an increase in the price of plastic, an input into the production of mp3 players d. an improvement in the technology used to produce mp3 players
Points inside (below) the production possibilities frontier (PPF) are
What will be an ideal response?