Refer to the information provided in Figure 8.9 below to answer the question(s) that follow. 
Figure 8.9
Refer to Figure 8.9. If this farmer produces the profit-maximizing quantity when the market price is ________, her profit is $0.
A. $24
B. $20
C. $18
D. $4
Answer: C
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If someone asked you to predict the price of gas in a month, and you decided to just guess by adding a few cents to the current price of gas, which you know, your answer would exhibit:
A. anchoring. B. time inconsistency. C. rational expectations. D. transitivity.
Along a production possibilities curve showing capital and consumption goods production, which of the following pairs are being held fixed?
A. Unemployment and capital goods production. B. Number of resources and technology. C. Composition of the economy's output and number of resources. D. Capital and consumption goods production.
According to most economists, the development of markets is:
A. both a necessary and a sufficient condition for development. B. a sufficient condition for development but not a necessary condition. C. a necessary condition for development but not a sufficient condition. D. neither a necessary nor a sufficient condition for development.
Most of the dollars that foreigners have obtained because of our huge current account deficit
A. circulates in foreign countries. B. are used as reserves. C. are invested in the United States. D. are used to pay off old debts to the United States.