In Figure 45.1, the added revenue that employers bring in from the work of their employees at the equilibrium wage-labor combination is 
Figure 45.1
A. OBCL*.
B. ABC.
C. OACL*.
D. OW*CL*.
Answer: C
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The balance owed on credit cards in the United States in 2014 was $880 billion. When consumers pay off this balance in full,
A) M1 will decrease by $880 billion. B) M1 will remain unchanged but M2 will decrease by $880 billion. C) neither M1 nor M2 will change. D) M1 will increase by $880 billion.
The achievement of the optimal allocation of society's scarce resources requires that regulators set prices equal to firms marginal cost
a. True b. False
If the cost of producing a good rises for sellers, then how will this affect the market equilibrium for that good?
a. Price and quantity will both fall. b. Price will fall and quantity will rise. c. Price will rise and quantity will fall. d. Price and quantity will both rise.
Landon increases his consumption of Good X and Good Y when his income increases. For Landon
A. Good X and Good Y are substitute goods. B. Good X and Good Y are complement goods. C. Good X and Y are normal goods D. Good X is an inferior good.