Environmental policies like corporate average fuel economy (CAFE) standards and mandatory technology like catalytic converters _____________________ fuel consumption and emissions without necessarily _________________ the number of automobiles sold.
a. increase; reducing
b. increase; increasing
c. reduce; reducing
d. reduce; increasing
e. None of the above.
Ans: c. reduce; reducing
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Short-run equilibrium output is the level of output at which actual output:
A. equals potential output. B. maximizes firm profits. C. equals planned aggregate expenditure. D. equals real GDP per capita.
Which of the above diagrams illustrate(s) the effect of an increase in incomes on the market for secondhand clothing?
A. A only B. B only C. C only D. B and C
Which of the following regarding a monopolist is INCORRECT?
A) The monopolist is a single supplier of a good or service. B) The monopolist constitutes the entire industry. C) The monopolist produces only goods of highest quality. D) There are barriers to entry that allow monopoly.
Refer to the information provided in Figure 8.6 below to answer the question(s) that follow. 
Figure 8.6 Refer to Figure 8.6. Curve 1 is Outdoor Equipment's
A. average variable cost curve. B. average fixed cost curve. C. average total cost curve. D. marginal cost curve.