When should parties be allowed to breach a contract?
If the party breaking the contract earns a higher return, even after paying for liquidated damages, compared to the return earned from keeping the contract, they should be allowed to breach the contract.
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Is it possible for the economy to be at full employment and still have some people who are unemployed?
A) No, full employment means that no one is unemployed. B) Yes, since full employment exists if the economy is operating at the natural unemployment rate and there is always some natural unemployment. C) Yes, since full employment exists if the economy is operating at the frictional unemployment rate and there is always some frictional unemployment. D) Yes, since full employment equals the sum of the cyclical unemployment rate and the natural unemployment rate, and there is always some cyclical unemployment. E) none of the above
On the graph below sketch the income and substitution effects of a price increase for good X. 
What will be an ideal response?
Part of the good economic performance of the United States in the 1990s can be explained by a rightward-shifting aggregate supply curve.
Answer the following statement true (T) or false (F)
The name of Andrew Carnegie is most closely associated with
A. the steel industry. B. the rubber industry. C. the meatpacking industry. D. the chemical industry.