What is the fundamental principle that economists use when evaluating the costs and benefits of production?
A) cost of goods principle B) production principle
C) marginal principle D) supply and demand principle
C
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
According to the book, the characteristic way an individual or family manages resources is shaped by 5 forces, which of the following is not one of them
a. Psychological/personality b. Economic c. Technological d. Cognitive
If total revenue is increased, which of the following must have been true?
a. MR = 0 b. MR > 0 c. MR = AR d. MR < 0 e. MR < MC
Libertarians believe that in considering economic fairness, one should primarily consider the
a. outcome of the system. b. process by which outcomes arise. c. maximin criterion. d. maximization total social utility.