United Parcel Service and other parcel post carriers have expanded in part because
a. the U.S. Postal Service licensed them the right to deliver first-class mail
b. Congress gave patents to these companies
c. the U.S. Postal Service does not have a monopoly on all types of mail
d. the telephone has replaced the letter as a means of correspondence
e. Congress has all but eliminated funding for the U.S. Postal Service
C
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When there is a cost or benefit that affects someone other than the seller and buyer, then there is
A) a tax. B) a subsidy. C) a quantity regulation. D) a price regulation. E) an externality.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.
Suppose each worker must use only one shovel to dig a trench, and shovels are useless by themselves. In the short run, an increase in the price of shovels will result in
A) fewer shovels being purchased. B) more workers being hired. C) a decrease in the firm's output. D) no change in the firm's output.
In Figure 45.1, the opportunity cost to workers of working at the equilibrium wage-labor combination is 
Figure 45.1
A. OW*CL*. B. ABC. C. OBCL*. D. OACL*.