Which of the following illustrates a barter transaction?
A) A bushel of oranges is traded for a bushel of apples.
B) Someone buys a pizza for the special price of $4.
C) Someone buys a house for $100,000.
D) b and c
E) a, b, and c
A
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Which of the following is a key difference between firms in a perfectly competitive industry and firms in a monopolistically competitive industry?
a) A monopolistically competitive firm does not face entry from other firms. b) A monopolistically competitive firm does not have the exact same product as other firms. c) A monopolistically competitive firm does not choose a level of output where marginal cost is equal to marginal revenue. d) A monopolistically competitive industry does not have a large number of sellers.
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
Using the information in Table 6.2, the percent increase in prices over the two year period from 2014 to 2016 is approximately
A) 26 percent. B) 31 percent. C) 38 percent. D) 98 percent.
A liberal philosophy of land distribution would support which of the following rules about paying for western land?
a. High minimum acreage rules for people buying land b. High minimum prices for land c. Credit payments for the land