By making involuntary exchanges illegal,
a. criminal law eliminates such exchanges
b. tort law contributes to economic efficiency
c. criminal law channels energies into activities that benefit everyone
d. criminal law reduces producer surplus while increasing consumer surplus
e. antitrust law contributes to monopolization of markets
C
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"The short-run Phillips curve shifts leftward when the inflation rate rises." Is the previous statement correct or incorrect?
What will be an ideal response?
Which of the following is true according to the case study on U.S. / China trade presented in the chapter?
A) China has relative abundance in capital. B) China has relative abundance in skilled labor. C) The United States has relative scarcity in unskilled labor. D) The United States has relative scarcity in capital.
Refer to the information provided in Figure 7.8 below to answer the question(s) that follow. 
Figure 7.8Refer to Figure 7.8. The slope of isocost CD is
A. greater than the slope of isocost AB. B. less than the slope of isocost AB. C. equal to the slope of isocost AB. D. indeterminate from this information, as the prices of capital and labor are not given.
Which of the following statements about price stickiness or flexibility is true?
A. Prices of many raw materials are less flexible than the prices of final goods and services B. Prices of many raw materials are much more flexible than the prices of final goods and services C. Prices of many raw materials are about as flexible as the prices of final goods and services D. Prices of many raw materials are only slightly more flexible than the prices of final goods and services