ADC makes latex-free tubing for blood pressure instruments. This is
A. an output of ADC.
B. an input into the production of health.
C. both an input and an output.
D. These concepts do not apply to this sort of product.
Answer: C. both an input and an output.
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Assume there is no way to prevent someone from using an interstate highway, regardless of whether or not he or she helps pay for it. This characteristic is called
A. nonexcludability. B. nonrivalry. C. nontaxability. D. nondiscrimination.
A monopolist charges a price that is ________ and produces ________ than a perfect competitor
A) lower; less B) higher; less C) higher; more D) lower; more
Suppliers will supply more of a good when the price of that good rises because the opportunity cost of not producing that good has risen.
Answer the following statement true (T) or false (F)
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