If an epidemic hits a Malthusian economy, the long-term consequence is
A) an increase in the standard of living.
B) a reduction in the standard of living.
C) no change in the standard of living.
D) dependent on the population growth rate.
C
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Suppose that a regulatory agency helps producers maximize economic profit. This type of regulation coincides with
A) a natural monopoly. B) a marginal cost pricing rule. C) an average cost pricing rule. D) the capture theory of regulation. E) the social interest theory of regulation.
To calculate GDP by the expenditure method, one must add
A) wages, rents, interest, and profits. B) consumption spending, investment spending, government spending, and net exports. C) labor, natural resources, entrepreneurship, and capital. D) consumption spending, investment spending, government spending, and exports.
Use the following marginal benefit and marginal cost functions for activity A: MB = 100 - 5AMC = 20 + 3AThe fifth unit of activity A will
A. decrease net benefits by 40. B. increase net benefits by 75. C. reduce net benefits by 75. D. reduce net benefits by 35. E. increase net benefits by 40.