(Consider This) Ticket scalping:
A. imposes economic losses on both buyers and sellers.
B. creates economic gains for both buyers and sellers.
C. imposes losses on buyers but creates gains for sellers.
D. imposes losses on sellers but creates gains for buyers.
Answer: B
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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
Which of the following can be a source of comparative advantage?
A) Prices of finished goods B) The demand for goods in the global market C) Climatic conditions D) The demand for the goods in the domestic market
Which one of the following about a monopoly is false?
A) A monopoly status could be temporary. B) A monopoly could make profits in the long run. C) A monopoly could break even in the long run. D) A monopoly must have some kind of government privilege or government imposed barrier to maintain its monopoly.
Use the following graph of the demand for electric cars to answer the question below.
Which of the following would occur if electric cars became less expensive?
A. D3 to D1 B. Point a to point b C. Point b to point A D. D2 to D1