Resource X is necessary to the production of good Y. If the price of resource X falls,
A) the supply curve of Y shifts leftward.
B) the supply curve of Y shifts rightward.
C) the supply curve of Y is unaffected.
D) there is a movement down the supply curve of Y.
E) there is a movement up the supply curve of Y.
B
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When a product is taxed,
A) part of the initial consumer surplus goes to the government as revenue. B) part of the initial consumer surplus becomes a deadweight loss. C) the producer surplus never changes because consumers pay taxes, not producers. D) Both answers A and B are correct. E) Both answers B and C are correct.
"My opponent in this election says she wants a balanced federal budget, but won't say how it would be achieved." This candidate is trying to
A) challenge his or her opponent's commitment to balancing the budget. B) get his or her opponent to say something that will allow a label of "left-wing" or "right-wing" to be attached on her. C) accuse the opponent of going exclusively after the median voter, who is never interested in ends, only means. D) accuse the opponent of going after the votes of the rationally ignorant.
Statistics belong to which "family"?
a. supervision b. management c. science d. auditing
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