A.   The fact that goods/services are highly desirable.

B.   The fact that there is finite quantities of that good/service in a fixed amount of time.

C.   The fact that goods/services are limited by human ingenuity.

D.   The fact that there is infinite quantities of that good/service in an infinite amount of time.

A.   the price mechanism

B.   social, political, and cultural means

C.   non-economic forces

D.   non-market rationing

E.   social forces

A.   the allocating of kidneys based on life expectancy

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

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

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

E.   not enough information to answer

A.   the price mechanism

B.   marginal benefits

C.   note enough information to answer

D.   marginal costs

E.   social, cultural, and political means

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

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

C.   cost-benefit analysis

D.   the allocating of kidneys based on life expectancy

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

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

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

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

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

A.   Are purely variable

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

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

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

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

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

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

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

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

A.   marginal benefit is greater than the marginal cost

B.   The total cost is greater than the total benefit

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

D.   All of the answers available are correct

E.   The marginal cost is greater than the marginal benefit

A.   The parking fees at the factory

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

C.   Textbook costs

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

E.   transportation costs

A.   The cost of paying teacher's salaries

B.   The foregone benefit of improved education outcomes

C.   The foregone cost of education spending

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

E.   The investment in building educational facilities

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

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

C.   MC=$6,000 MB=$12,000

D.   MC=$5,000 MB=$12,000

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

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

C.   Yes, due to the following reason: M C = 12 , 000 > M B = 11 , 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 by making the real world more complex, and making predictions based on the insights from the increased complexity.

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

A.   Quantity demanded will shift

B.   Prices have a tendency to remain constant

C.   Prices have a tendency to rise

D.   Prices have a tendency to fall

E.   Prices are in equilibrium

A.   Prices have a tendency to rise

B.   prices are constant

C.   prices have a tendency to fall

D.   not enough information to answer

E.   prices are in equilibrium