As the price of cookies increases, firms that produce cookies will:
A. increase the supply of cookies.
B. increase the quantity of cookies supplied.
C. decrease the quantity of cookies supplied.
D. decrease the supply of cookies.
Answer: B
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Which of the following would show the LEAST amount of inequality?
A) Measured annual income. B) Measured annual wealth. C) Lifetime income. D) Measured annual income and annual wealth are equally distributed and are more equally distributed than lifetime wealth.
How wages are determined is best described by:
A. economic factors only. B. economic factors, with strong influences by political and social forces. C. government regulation only. D. political and social forces only.
Graphically inflation shocks shift the ________ and shocks to potential shift the ________.
A. long-run aggregate supply line; short-run aggregate supply line B. aggregate demand curve; long-run aggregate supply line C. aggregate demand curve; short-run aggregate supply line D. short-run aggregate supply line; long-run aggregate supply line
Refer to the information provided in Figure 13.4 below to answer the question(s) that follow. 
Figure 13.4Refer to Figure 13.4. At its production point, the ________ for this firm is $11.
A. marginal cost B. profit-maximizing price C. average total cost D. marginal revenue