Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. If this farmer is maximizing profits, his total revenue will be
A. $90.
B. $135.
C. $180.
D. $240.
Answer: C
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A good salesperson can sell $100,000 worth of goods, while a poor one can sell only $10,000 worth of goods. Job applicants know if they are good or bad, but the firm does not
A firm will offer job applicants a choice between a fixed salary of $2,000 or a commission on the sale. Assume risk-neutral salespersons and no opportunistic behavior. Given that the firm wants to distinguish a prospective good salesperson from a poor one, what should be the commission on sales? A) Commission should be larger than 50%. B) Commission should be larger than 40%. C) Commission should be between 2% and 20%. D) Commission should be smaller than 2%.
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
Which statement is false?
A. Most poor women who get pregnant do so to get on welfare. B. Most long-term poor people are black. C. The causes of black poverty are not always the same as those of white poverty. D. None of these statements are false.
All of the following are reasons that trade between nations is beneficial EXCEPT
A. gains from trade. B. protection of domestic industries. C. gains from specialization. D. exchange of ideas.