As monthly rain levels rise, golf course revenue falls because casual golfers prefer to stay dry. This is an example of:
A. scarcity.
B. incentives.
C. normative analysis.
D. correlation and causation.
D. correlation and causation.
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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
Based on Figure 6.1, given a tariff of $0.25 per bushel on soybean imports, how much will domestic production increase?
A) Domestic firms will increase output by 10 million bushels. B) Domestic firms will increase output by 20 million bushels. C) Domestic firms will increase output by 70 million bushels. D) Domestic firms' production will not be changed by the tariff.
From 2002 to 2003, personal income rose by $352 billion. If the MPC = 0.9, then personal consumption expenditures rose by
a. $31.68 billion b. $35.2 billion c. $3.52 billion d. $387.2 billion e. $316.8 billion
Suppose that the supply curve remains unchanged. If the demand curve shifts to the right,
A. the market clearing price definitely will increase. B. there will be no change in the market clearing price. C. the market clearing price definitely will decrease. D. the market will collapse.