Refer to the information provided in Figure 17.2 below to answer the question(s) that follow. 
Figure 17.2 Refer to Figure 17.2. Suppose Sam's utility from income is given in the diagram. From this we would say that Sam is
A. risk-averse.
B. risk-neutral.
C. risk-loving.
D. a risk taker.
Answer: B
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When the Treasury borrows from the non-bank public and makes an expenditure of an equal amount, the money supply
A) rises by a multiple of the expenditure. B) rises by an amount equal to the expenditure. C) rises by an amount less than the expenditure. D) is unaffected.
In which market structure(s) might firms produce an undifferentiated product?
a. perfect competition only b. perfect competition and oligopoly c. monopolistic competition only d. perfect competition and monopolistic competition e. monopoly only
Which of the following is not a contention of advocates of unions?
a. Unions are a necessary antidote to the market power of the firms that hire workers. b. In the case of a "company town," a union may balance the firm's market power and protect the workers from being at the mercy of the firm's owners. c. The introduction of a union benefits all workers in a firm. d. Unions are important for helping firms respond efficiently to workers' concerns.
________: the amount by which the quantity supplied exceeds the quantity demanded at a particular market price
Fill in the blank(s) with correct word