The government can turn a shortage of a good into a surplus by
A) imposing a sufficiently low ceiling price.
B) offering subsidies to producers.
C) persuading producers to increase the amount of the good available.
D) supporting the price of the good above the market clearing level.
D
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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
Country A limits other nations' exports of coal to Country A to 1,000 tons of coal annually. This is an example of a(n)
A. export subsidy. B. voluntary export restriction. C. protective tariff. D. import quota.
Refer to Figure 11-3. For what quantity of labor does production start to display diminishing returns?
A) for more than 1 units of labor B) for more than 4 units of labor C) for more than 5 units of labor D) for more than 8 units of labor
What is TRUE about every point along a production possibilities frontier?
A) Both people are maximizing utility. B) It is impossible to increase production of either good. C) All allocations are efficient. D) It includes some unattainable points.