Albert, Betty, Christine, and David are all very good students. When they hold their study sessions, they often discuss very difficult concepts in great detail. Christine's roommate, Elizabeth, who takes completely different classes, still learns from the discussions of the others. This is the case of a(n) _______________ which _______________ a _______________
a. public good; benefits; third party
b. externality; imposes a cost on; free rider
c. market failure; results from; third party
d. free rider; benefits from; third party
e. externality; benefits; third party
E
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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; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
The aggregate production function shows a(n) ________ relationship between ________ and output
A) decreasing; capital stock B) decreasing; labor C) constant; labor D) increasing; capital stock
Which of the following describes a barrier to entry?
A) something that establishes a barrier to expanding output B) anything that protects a firm from the arrival of new competitors C) a government regulation that bars a monopoly from earning an economic profit D) firms already in the market incurring economic losses so that no new firm wants to enter the market E) Firms are legally prohibited from exiting the market in order to enter another market.
The income effect results in consumers increasing the quantity of normal goods demanded when the price falls
Indicate whether the statement is true or false