If a good that generates negative externalities were priced to take these negative externalities into account, its
A. price would remain constant and output would increase.
B. price would increase but its output would remain constant.
C. price would increase, and its output would decrease.
D. price would decrease, and its output would increase.
Answer: C
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"As we consume increasing amounts of a good or service, we derive diminishing utility from each additional unit consumed" defines ______________________.
Fill in the blank(s) with the appropriate word(s).
A trade surplus occurs when:
A. The dollar value of exports exceeds the dollar value of imports. B. The gains from trade are not fully realized. C. A country does not have a comparative advantage in any goods. D. The cost of goods is so high that imports exceed exports.
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
The U.S. federal government's largest unfunded liability is
What will be an ideal response?