A.   non-market rationing

B.   the price mechanism

C.   social, political, and cultural means

D.   non-economic forces

E.   social forces

A.   not enough information to answer

B.   the allocating of slots into U.C. Berkeley based on SAT scores

C.   the allocating of kidneys based on life expectancy

D.   the allocating Ferrraris to those who can afford the price of a Ferrari

E.   the allocating of healthcare to those who are the best candidates for treatment

A.   marginal costs

B.   marginal benefits

C.   the price mechanism

D.   note enough information to answer

E.   social, cultural, and political means

A.   the allocating of kidneys based on life expectancy

B.   cost-benefit analysis

C.   the allocating of healthcare to those who can afford the price of care

D.   the allocating of Ferraris to those who can afford the price of Ferraris

E.   the allocating of slots into Harvard based on who can afford the price of tuition

A.   Inflation, which is primarily a topic studied under macroeconomics, can impact how individuals make consumption decisions, which is a topic relegated primarily to microeconomics.

B.   Unemployment, which is primarily a topic studied under microeconomics, can impact aggregate demand, which is a topic relegated primarily to macroeconomics.

C.   Unemployment, which is primarily a topic studied under macroeconomics, can impact aggregate demand, which is a topic relegated primarily to microeconomics.

D.   Inflation, which is primarily a topic studied under microeconomics can impact aggregate demand, which is a topic relegated primarily to microeconomics.

A.   Are variable and change when you engage in some activity

B.   Can be recovered and thus are relevant to the decision at hand

C.   Are purely variable

D.   Cannot be recovered and thus are irrelevant to the decision at hand

E.   Are constant in the long run, but are variable in

A.   The fixed benefit of going to college over 4 years.

B.   The additional revenue gained from selling an additional computer.

C.   The additional money a firm spends on purchasing a computer.

D.   The additional expense incurred by engaging in an activity.

A.   All of the answers available are correct

B.   The marginal cost is greater than the marginal benefit

C.   The total cost is greater than the total benefit

D.   marginal benefit is greater than the marginal cost

E.   All else being equal you are worse off from the activity

A.   The net benefit that they could have received by spending that 8 hours in college

B.   transportation costs

C.   Textbook costs

D.   The parking fees at the factory

E.   The net benefit that they could have received from working at their job

A.   The foregone cost of education spending

B.   The foregone net benefit from spending $50 billion on healthcare

C.   The investment in building educational facilities

D.   The foregone benefit of improved education outcomes

E.   The cost of paying teacher's salaries

A.   MC=$6,000 MB=$12,000

B.   MC=$5,000+$6,000=$11,000 MB=$12,000+$11,000=$23,000

C.   MC=$5,000 MB=$12,000

D.   MC=$5,000+$6,000=$11,000 MB=$12,000

A.   Yes, due to the following reason: M C = 12 , 000 > M B = 11 , 000

B.   Yes, due to the following reason: M B = 12 , 000 > M C = 11 , 000

C.   No, due to the following reason: M B = 12 , 000 > M C = 5 , 000

A.   Increase complexity and gain insights into that complexity.

B.   Gain an understanding of how economic variables interact by making simplifying assumptions, and making predictions based on the insights from the model.

C.   Gain an understanding of how economic variables converge and diverge from one another by making increased complexity an inherent part of the model.

D.   Gain an understanding of how economic variables converge by making the real world more complex, and making predictions based on the insights from the increased complexity.

A.   Prices are in equilibrium

B.   Prices have a tendency to remain constant

C.   Quantity demanded will shift

D.   Prices have a tendency to rise

E.   Prices have a tendency to fall

A.   not enough information to answer

B.   prices are in equilibrium

C.   prices are constant

D.   prices have a tendency to fall

E.   Prices have a tendency to rise