Using Figure 1.5 above, you can tell that 
A. there is increasing opportunity cost.
B. the technology does not exist to produce 4 units of soda and 1 unit of pizza.
C. there is unemployment.
D. the technology does not exist to produce 3 units of soda and 3 units of pizza.
Answer: D
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The following are the equations for the supply and demand curves in the market for weezils: Demand: Qd= 20?2P Supply: Qs= 5 + 3P where Qdis the quantity demanded, Qsis the quantity supplied, and P is the price per weezil in dollars. Refer to Exhibit 4-1. If the government imposes a price floor of $4 a weezil, how many weezils will be sold?
A. 5 B. 10 C. 12 D. 14
The long-run Phillips curve is a(n) ____ line at the natural rate of unemployment
a. horizontal b. vertical c. upward-sloping d. downward-sloping
Microsoft's government-granted exclusive right to make and sell the Windows operating system is called a
Rosa is willing to pay $200 for the iPhone, but the actual price is $400. This means
A. Rosa will enjoy a consumer surplus of $200 if she buys the iPhone. B. The iPhone is overpriced. C. Rosa will buy this product but will not receive any consumer surplus. D. Rosa will not buy an iPhone.