To carry out an optimization analysis:
A) only direct costs incurred in a project are to be estimated.
B) all costs are required to be converted to a same unit of measurement.
C) only indirect costs incurred in a project are to be estimated.
D) different types of costs are measured in different units.
B
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If the price elasticity of demand for opera tickets in Orlando is 1.00, then the demand for opera tickets in Orlando is
A) unit elastic. B) elastic. C) perfectly inelastic. D) inelastic. E) perfectly elastic.
Jane produces only corn, measured in tons, and cloth, measured in bolts. For her, the opportunity cost of one more ton of corn is
A) the same as the opportunity cost of one more bolt of cloth. B) the inverse of the opportunity cost of one more bolt of cloth. C) the ratio of all the bolts of cloth she produces to all the tons of corn she produces. D) the ratio of all the tons of corn she produces to all the bolts of cloth she produces.
The Fanjuls are:
A. a consumer advocacy group attempting to ban special interest groups. B. free traders who propose doing away with all tariffs. C. sugar barons who give considerable money to politicians who make decisions on sugar quotas. D. a new political party based on the opposition to special interest politics.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward