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In Exhibit 3-7, if price happened to currently be $25 in this market, a _______ would result, causing a _______ in price.
A. shortage; increase
B. shortage; decrease
C. surplus; increase
D. surplus; decrease
Answer: A
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
According to the graph shown, consumer surplus is:
A. $10.
B. $15.
C. $20.
D. $30
A decrease in the wage rate causes the budget line to
a. become flatter. b. become steeper. c. shift upward. d. shift downward.
Examine Figure 37.1. What is the number of students educated in a market that has no subsidy? 
Figure 37.1
A. S* B. S' C. All who have any desire for it D. The answer is unknown from this diagram.