The useful economic life of a machine depends most importantly on
a) the depreciation rate
b) the interest rate
c) the tax rate
d) risk
e) the marginal revenue produced by the machine
a) the depreciation rate
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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
Deadweight loss declines in size when a unit of output is produced for which
A. consumer surplus exceeds producer surplus. B. marginal cost exceeds marginal benefit. C. producer surplus exceeds consumer surplus. D. maximum willingness to pay exceeds minimum acceptable price.
Price ceilings are intended to address the problem of
A. Business bankruptcies. B. Inefficiency in production. C. Inequity in the distribution of goods and services. D. Shortages.
With respect to consuming food and shelter, two consumers face the same prices and both claim to be in equilibrium. We therefore know that
A) they both have the same marginal utility for food. B) they both have the same marginal utility for shelter. C) they both have the same MRS of food for shelter. D) All of the above.