Matt has decided to purchase his textbooks for the semester. His options are to purchase the books online with next day delivery at a cost of $175, or to drive to campus tomorrow to buy the books at the university bookstore at a cost of $170. Last week he drove to campus to buy a concert ticket because they offered 25 percent off the regular price of $16. Assume the minimum that Matt would be willing to accept to drive to campus is equal to the $4 he saved on the concert ticket. What would his economic surplus be if he bought his textbooks at the university bookstore rather than online?
A. $5
B. $50
C. $20
D. $1
Answer: D
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a. New classical economics b. Classical economics c. Keynesian economics d. Rational economics e. Positive economics
The recent WASDE report shows a decrease in expected imports of wheat. The US "total supply" of wheat for the crop year is estimated to:
a. Increase b. Decrease c. Remain unchanged d. Can't tell from available information
If you purchase a gift worth $25 for your sister, but your sister would be willing to pay only $10 is she bought the item for herself, then the:
A. Total utility of the gift is $35 B. Total utility of the gift is $15 C. Marginal utility of the gift is $15 D. Loss of value in the gift is $15
Refer to the information provided in Figure 7.3 below to answer the question(s) that follow. 
Figure 7.3Refer to Figure 7.3. The average product with two workers is ________ yards raked.
A. 4 B. 13.5 C. 14 D. 27