For a competitive, profit-maximizing firm, the labor demand curve is the same as the
a. marginal cost curve.
b. value of marginal product curve.
c. production function.
d. profit function.
b
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Recycling efforts such as those exemplified by BMW's Design for Disassembly (DFD) program
a. permanently diminish the flow of residuals back to nature b. are not represented in the materials balance model c. represent short-term conversion of residuals into recycled materials or goods d. reduce the amount of wastes returned to nature in the long-run
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
In the period 1960–95, the cycles of upturns and downturns in the economy (booms and recessions)
(a) were eliminated as knowledge of how the economy operated grew. (b) continued to occur, although not nearly as severely as prior to World War II. (c) grew even worse than prior to World War II. (d) were equally as bad as the period prior to World War II.
Adam Smith believed that the individual pursuit of self-interest:
A. is impossible in a perfectly competitive market. B. should usually be discouraged. C. often promotes the broader interests of society. D. always leads to an efficient outcome.