Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. If the market price of soybeans ________, then to maximize profits this farmer should produce 700 bushels of soybeans.
A. falls to $2
B. falls to $8
C. falls to $9
D. stays at $12
Answer: B
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Carefully distinguish between an economic theory and economic model.
What will be an ideal response?
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 relationship between a firm's advertising expenditure and its profit is studied under:
A) international economics. B) microeconomics. C) public economics. D) macroeconomics.
Debtors gain and creditors lose when
A) the anticipated rate of inflation is greater than the actual rate of inflation. B) the anticipated rate of inflation is less than the actual rate of inflation. C) the anticipated rate of inflation is the same as the unanticipated rate of inflation. D) the unanticipated rate of inflation is zero.