Which of the following statements is false?
A) Specialization and trade allow a country's inhabitants to consume at a level beyond its production possibilities frontier.
B) Some of the goods the U.S. exports include cars, coal, and wheat.
C) Some of the goods the U.S. imports include cars, oil, and coffee.
D) A country has a comparative advantage in producing that good it can produce at lower opportunity cost than another country.
E) none of the above
E
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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; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Which of the following is a condition for maximum profit?
A) VMP = W. B) VMP = MC. C) MP = W. D) MC = W.
A decrease in a broad index of commodity prices suggests to the Fed that
a. money is plentiful, and the Fed should conduct restrictive policy. b. money is plentiful, and the Fed should conduct expansionary policy. c. deflation is a potential future danger, and the Fed should conduct expansionary policy. d. future prices will likely increase, and the Fed should conduct expansionary policy.
Other things constant, if wheat production is a price-taker industry, a decrease in the price of fertilizer used to grow wheat will
a. increase the supply of wheat. b. increase the demand for wheat. c. decrease the supply of wheat. d. do both a and b.