Refer to the information provided in Figure 8.3 below to answer the question(s) that follow. 
Figure 8.3
Refer to Figure 8.3. The marginal cost of the eleventh basketball is
A. less than $1.
B. $1.
C. $2.
D. greater than $2.
Answer: D
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Consider the opportunity costs of producing goods X and Y that are listed for the four individuals above. Which person has a comparative advantage in producing good X?
A) Pramilla B) Sam C) George D) Lucas
Figure 11-3
In Figure 11-3, which of the following is true, whether or not the monopolist is maximizing profits?
a.
MR < P
b.
MC = P
c.
MC < AC
d.
MR = P
Suppose the MRP of the 49th worker at a firm is $25 and that the market wage rate is $15. We know that if this firm operates in perfectly competitive product and labor markets
A. the firm is paying wages above the minimum wages. B. the firm would be more profitable if it hired more workers. C. the firm's profits would increase if it fired some workers. D. the firm should use more capital.
If nominal GDP in some year is $280 and real GDP is $160, then the GDP price index for that year is:
A. 175. B. 57. C. 160. D. 280.