Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward
B. Short-run aggregate supply shifting upward
C. Short-run aggregate supply shifting downward
D. Aggregate demand shifting leftward
Answer: B
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The maximum profit of a monopolist occurs
a. where AR equals MC. b. at the lowest point of the MC curve. c. where MR equals MC. d. at the widest gap between AR and MC.
The real exchange rate is defined to be the:
A. value of goods in one nation relative to the value the same set of goods in another country. B. rate at which firms in different nations would be willing to exchange goods. C. rate people exchange goods and services in a domestic market. D. value of goods in one nation relative to the value a similar set of goods in another country.
A "decrease in demand" means that
A) the demand curve has shifted to the left. B) price has declined and consumers want to purchase more of the good. C) the demand curve has shifted to the right. D) the price of the good can be expected to decline, assuming supply stays constant.
With respect to health care decisions, which party is the "third" party?
A. The doctor B. The federal regulator C. The health insurance company D. The patient