If getting accepted into college is very difficult because of high standards of intelligence and ability, but students learn absolutely nothing while in college, it is most likely that
A) they will not be hired upon graduation.
B) attendance sends a signal to employers regarding ability.
C) nobody will want to go to college.
D) a college degree is not a credible signal.
B
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Use the following supply and demand graph for product X to answer the question below. 
If there are positive externalities from the consumption of product X, then the socially optimal demand curve would be
A. an upward-sloping line. B. to the left of line D on the graph. C. at the position of line D on the graph. D. to the right of line D on the graph.
A speculator who believes strongly that interest rates will rise would be likely to
A) buy futures contracts on Treasury bills. B) sell futures contracts on Treasury bills. C) buy Treasury bonds in the spot market. D) increase now the amount of money which he lends.
The Emission Trading Scheme of the European Union
A) created a market for pollutants. B) sets a cap on the amount of pollutants in each country. C) allowed firms to benefit from emitting pollutants. D) sets the amount of per-unit tax on each pollutant.
Allocative efficiency means which of the following?
a. Producing at the lowest cost b. Producing without waste c. Producing what consumers prefer d. Producing what sellers prefer