Refer to the information provided in Figure 10.2 below to answer the question(s) that follow. 
Figure 10.2 Refer to Figure 10.2. This firm?s marginal cost curve has shifted from MC1 to MC0. A likely explanation for this is that
A. the demand for the firm?s product increased.
B. the price of a variable input increased.
C. the supply of a variable input increased.
D. the productivity of a variable input increased.
Answer: B
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An increase in demand will cause
a. an increase in supply. b. a decrease in quantity supplied. c. a decrease in supply. d. a decrease in equilibrium price. e. an increase in quantity supplied.
(Consider This) From an economist's perspective, when is government too big?
A. Government is always too big. B. When government activity exceeds 10 percent of gross domestic product. C. When the marginal costs from additional government spending exceed marginal benefits. D. When the marginal benefits from additional government spending exceed marginal costs.
Unemployment and recessions are sometimes necessary to curb high inflation.
Answer the following statement true (T) or false (F)
In the mid-1970s, the United States switched from running a trade ________ to running a trade ________.
A. deficit; surplus B. surplus; deficit C. balance; surplus D. deficit; balance