P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. 
P-TV will air a sitcom:
A. only if QRS-TV is also airing a sitcom.
B. no matter what QRS-TV does.
C. never.
D. only if QRS-TV is airing a reality show.
Answer: C
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Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
For a monopolist facing this demand curve, the profit-maximizing quantity is ________ and the profit-maximizing price is ________.
A. 50; $3 B. 100; $2 C. 50; $2 D. 100; $1
Which type of policy raises the most revenue for the government?
A) tariff B) quota C) voluntary export restraints D) If they are set at the same level, all of the above raise the same amount of revenue. E) None of the above answers is correct because none of the policies raises revenue for the government.
Under perfect competition, the price of a depletable resource whose cost of extraction is not changing must rise at
A. the same rate as the increase in GDP. B. the same rate as the increase in consumer prices. C. the same rate as the rate of interest. D. a rate higher than the increase in the rate of interest.
The net exports effect is the inverse relationship between net exports and the ____ of an economy.
A. potential real GDP B. chain-price deflator C. price level D. consumption spending