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

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

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

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

A.   non-market rationing

B.   social, political, and cultural means

C.   non-economic forces

D.   social forces

E.   the price mechanism

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

B.   the allocating of kidneys based on life expectancy

C.   not enough information to answer

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

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

A.   marginal costs

B.   the price mechanism

C.   social, cultural, and political means

D.   note enough information to answer

E.   marginal benefits

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

B.   the allocating of kidneys based on life expectancy

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

D.   cost-benefit analysis

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

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

B.   Are purely variable

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

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

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

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

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

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

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

A.   The marginal cost is greater than the marginal benefit

B.   The total cost is greater than the total benefit

C.   All of the answers available are correct

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

E.   marginal benefit is greater than the marginal cost

A.   transportation costs

B.   Textbook costs

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

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

E.   The parking fees at the factory

A.   The foregone benefit of improved education outcomes

B.   The investment in building educational facilities

C.   The foregone cost of education spending

D.   The cost of paying teacher's salaries

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

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 B = 12 , 000 > M C = 11 , 000

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

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

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

B.   Gain an understanding of how economic variables converge and diverge from one another by making increased complexity an inherent part of 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.   Increase complexity and gain insights into that complexity.

A.   Prices have a tendency to rise

B.   Prices have a tendency to remain constant

C.   Quantity demanded will shift

D.   Prices have a tendency to fall

E.   Prices are in equilibrium

A.   not enough information to answer

B.   Prices have a tendency to rise

C.   prices have a tendency to fall

D.   prices are constant

E.   prices are in equilibrium