A good example of a monopolistic competitive industry is
A. the federal highway system.
B. the few major textbook publishers together with nearly 100 percent of industry sales.
C. wheat farms in the United States.
D. the pop music industry.
Answer: D
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Suppose the figure below shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist. 
At this monopolist's profit-maximizing level of output, its total revenue equals the area:
A. 0FLE. B. ELJB. C. 0HNC. D. 0FJB.
The creation of the dust bowl and the migration of the "Okies" to California took place in the
A. 1920s. B. 1930s. C. 1940s. D. 1950s.
The above figure shows the U.S. market for replacement cell phone batteries. Area A + area E is the
A) consumer surplus when there is a tariff. B) producer surplus when there is a tariff. C) tariff revenue. D) increase in producer surplus due to the tariff. E) gain in total surplus due to the tariff.
Credit cards are not a form of money because
A) money needs to be tangible (not virtual). B) credit cards just extend a loan. C) credit cards just relate to an account. D) credit card balances are in fact counted as money.