An economic slow-down would cause the labor:
A. supply curve to shift left.
B. supply curve to shift right.
C. demand curve to shift left.
D. demand curve to shift right.
Answer: C
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Which of the following is a characteristic of a natural monopoly?
a. Fixed costs are typically a small portion of total costs. b. Average total cost declines over large regions of output. c. The product sold is a natural resource such as diamonds or water. d. All of the above are correct.
The demand for a resource rises as
A. its productivity rises and the relative prices of substitutable resources rises. B. its productivity rises and the prices of substitutable resources falls. C. its productivity falls and the relative prices of substitutable resources falls. D. its productivity falls and prices of substitutable resources falls.
Assuming sticky prices and given expectations of future exchange rates, what is the short-run effect on the exchange rate of the U.S. dollar (purchasing euros) and on domestic and foreign rates of return if there is a temporary increase in the quantity of U.S. dollars?
a. Rates of return on domestic and foreign assets diverge, as the dollar appreciates. b. Domestic and foreign rates of return both fall, as the dollar depreciates. c. Domestic and foreign rates of return converge, as the dollar depreciation lowers returns for U.S. investors who purchase euro-based assets. d. Rates of return on euro assets fall, causing investors to switch into U.S. assets and, therefore, the U.S. dollar appreciates against the euro.
Examine Figure 37.1. What is the number of students educated in a market that has a subsidy equal to the external benefit? 
Figure 37.1
A. S* B. S' C. All who have any desire for it D. The answer is unknown from this diagram.