An economy is judged efficient if
a. it is good at producing what people want.
b. it produces things that people may not want but in the least wasteful way.
c. produces whatever people want in a way that may not be the least wasteful.
d. it is a free-market economy and not a command market.
a
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Since 2000, where have most immigrants to the U.S. come from?
a. Latin America b. The Middle East c. Europe d. Asia
A fall in the value of the dollar relative to other currencies will:
A. decrease foreign demand for U.S. goods, shifting the U.S. aggregate demand curve to the right. B. increase foreign demand for U.S. goods, shifting the U.S. aggregate demand curve to the left. C. increase foreign demand for U.S. goods, shifting the U.S. aggregate demand curve to the right. D. decrease foreign demand for U.S. goods, shifting the U.S. aggregate demand curve to the left.
Suppose that a new drug has been approved to treat a life-threatening disease. The demand for that drug is shown on the graph below. Prior to approval of this drug, the only treatment for this condition was any one of several non-prescription, or over-the-counter, pain relievers. The demand for one brand of the several non-prescription pain relievers is also shown on the graph. 
A likely reason for the difference in the slopes of the demand curves is that:
A. one market is in equilibrium and the other is not. B. the over-the-counter pain reliever has many substitutes, but the new drug does not. C. one drug is heavily regulated by the Food and Drug Administration and the other is not. D. one drug is new on the market, but the other has been available for a long time.
There is "too much" steel production if the
A. social benefits of steel production are declining. B. social costs of steel production are significantly higher than the private costs. C. social costs of steel production are declining. D. social costs of steel production are significantly lower than the private costs.