Which of the following is not a reason why specialization and trade are beneficial to society?
A. The total output of economic goods may be increased even without any increase in resources
B. Scarce resources are utilized more efficiently by exploiting differences among them
C. Specialization fosters learning by doing, thus lowering the unit-costs of products
D. Firms and workers become less dependent on others for producing goods and services
Answer: D
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
The difference between craft unions and industrial unions is that industrial unions usually
A. Are organized along democratic lines, while craft unions are undemocratic. B. Flourish in industries, while craft unions dominate in smaller craft production. C. Include workers in an industry, while craft unions represent workers with a particular skill. D. Include workers with a particular skill, while craft unions represent workers in an industry.
Which of the following is a difference between "quantitative easing" and ordinary open-market operations?
A. There is no difference between the two policy tools. B. Open-market operations are done in order to lower interest rates; quantitative easing is merely intended to increase bank reserves. C. Quantitative easing is focused exclusively on U.S. government bonds; open-market operations also include the buying and selling of debt issued by government agencies and government-sponsored entities.
Marginal utility is the ________ satisfaction gained by consuming ________ of a good.
A. total; one more unit B. additional; one more unit C. total; all units D. additional; all units