Refer to the above figure. Profits will be negative
A. when the price equals $2.
B. when the price is below $2.
C. when the price is above $2.
D. only when the price equals $1.
Answer: B
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Which of the following is most likely to represent causality rather than association?
a. In years that fashion dictates wider lapels on men's jackets, the stock market grows by at least 5 percent. b. Interest rates are higher in years ending with a 1 or a 6. c. Unemployment falls when the AFC champion wins the Super Bowl. d. Quantity demanded goes up when price falls because lower prices increase consumer purchasing power, ceteris paribus.
Which of the following is a characteristic of an LDC?
a. Capital flight. b. Vicious circle of poverty. c. Lack of entrepreneurs. d. All of these.
________ is an experiment that tests the significance of fairness in consumer decision making
A) The fairness challenge B) The consumer choice paradigm C) The ultimatum game D) The Giffen paradox