Refer to the accompanying figure. At the equilibrium price, total consumer surplus in this market is: 
A. $12,000 per day.
B. $8,000 per day.
C. $4,000 per day.
D. $24,000 per day.
Answer: A
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The price of lemonade is $0.50; the price of popcorn is $1.00. If Fred has maximized his utility by purchasing lemonade and popcorn, his marginal rate of substitution will be:
A) 2 lemonades for each popcorn. B) 1 lemonades for each popcorn. C) 1/2 lemonade for each popcorn. D) indeterminate unless more information on Fred's marginal utilities is provided.
If a country experiences capital flight, which of the following curves shift right?
a. only the demand for loanable funds. b. only the supply of dollars in the market for foreign-currency exchange. c. only the net capital outflow curve and the supply of dollars in the market for foreign currency exchange. d. the demand for loanable funds, the net capital outflow curve, and the supply of dollars in the market for foreign currency exchange.
Discretionary fiscal policy entails
A. automatic changes in spending or taxes that occur as economic conditions change. B. changing government spending or tax policy to offset automatic stabilizers. C. legislative changes in spending or tax policies. D. actions exercised by the President alone in the United States.
At Phil's Pretzel Stand, we found the following: 4 laborers produced 66 pretzels 5 laborers produced 76 pretzels 6 laborers produced 85 pretzels 7 laborers produced 88 pretzels What was the marginal physical product of the seventh laborer?
A) 10 pretzels B) 9 pretzels C) 3 pretzels D) none of the above due to insufficient information