If a consumer has an income of $200, the price of X is $5, and the price of Y is $10, the maximum quantity of X the consumer is able to purchase is:
A. 5
B. 10
C. 20
D. 40
D. 40
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China's economy has grown tremendously from 1979 to the present. The reason for this growth is
A. the introduction of the centrally planned economy in 1978. B. the introduction of the social networking site, MySpace. C. the introduction of market-oriented reforms in 1978. D. the total lack of governmental intervention in the economy.
The fraction of an industry's sales that are accounted for by the largest firms is called
A) the four-firm oligopoly ratio. B) the four-firm competition ratio. C) the four-firm industry ratio. D) the four-firm concentration ratio.
The accompanying graph shows the cost curves for Moe's mushroom gathering business, which is perfectly competitive. 
In the graph above, the average variable cost curve is labeled ________, the average total cost curve is labeled ________, and the marginal cost curve is labeled ________.
A. C; B; A B. C; A; B C. B; C; A D. A; B; C
The economic system characterized by private ownership of resources and by markets is:
A. capitalism. B. communism. C. fascism. D. socialism.