"To each according to what he or she produces" describes the ________ theory of income determination.
A. equity
B. productivity
C. needs
D. egalitarian
Answer: B
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Refer to the figure below. For demand curve D1, what is the price elasticity of demand when P = 12? 
A. 12 B. 6 C. 3 D. 4
Refer to the diagram. At the profit-maximizing level of output, the firm will realize:
A. an economic profit of ABHJ.
B. an economic profit of ACGJ.
C. a loss of GH per unit.
D. a loss of JH per unit.
Consider the demand curves for soft drinks shown in the figure above. Suppose the economy is at point a. Which of the following could result in a movement to point d?
A) a decrease in income B) an increase in the relative price of a soft drink C) a decrease in the relative price of a soft drink D) a decrease in the price of bottled water
Crowding out would not occur if the
A) IS curve is horizontal. B) IS curve is vertical. C) LM curve is horizontal. D) LM curve is vertical