Scarcity, Opportunity Costs, and Basic Economic Questions | |||
1. E | 5. A | 9. B | 13. D |
2. B | 6. C | 10. E | |
3. D | 7. C | 11. A | |
4. A | 8. D | 12. B | |
The Production Possibility Model | |||
1. D | 3. B | 5. E | 7. C |
2. C | 4. E | 6. C | 8. B |
9. C | |||
The Market | |||
1. A | 2. D | 3. B | |
Demand and Supply | |||
1. D | 5. A | 9. C | 13. D |
2. C | 6. D | 10. E | 14. C |
3. A | 7. B | 11. B | 15. D |
4. A | 8. E | 12. C | |
Market Equilibrium and Applications | |||
1. C | 5. E | 9. C | 13. D |
2. C | 6. C | 10. D | 14. C |
3. D | 7. E | 11. B | 15. D |
4. D | 8. E | 12. C | 16. C |
Elasticity | |||
1. A | 5. C | 9. D | 13. E |
2. D | 6. E | 10. A | 14. A |
3. C | 7. B | 11. C | 15. B |
4. A | 8. A | 12. B | 16. A |
Consumer Choice | |||
1. A | 4. E | 7. C | 10. C |
2. D | 5. A | 8. C | 11. B |
3. A | 6. A | 9. C | |
The Firm and Production | |||
1. C | 3. B | 5. D | 6. C |
2. A | 4. E | ||
Short-Run Production and Costs | |||
1. C | 5. D | 9. D | 13. C |
2. E | 6. C | 10. E | |
3. D | 7. E | 11. D | |
4. E | 8. A | 12. D | |
Long-Run Production and Costs | |||
1. C | 2. A | 3. C | 4. C |
5. C | |||
Market Structure: Perfect Competition | |||
1. D | 5. A | 9. B | 13. E |
2. B | 6. E | 10. C | 14. A |
3. C | 7. C | 11. E | 15. B |
4. A | 8. C | 12. C | |
Market Structure: Monopoly | |||
1. C | 3. B | 5. B | 7. D |
2. C | 4. D | 6. C | 8. E |
Market Structure: Comparing Monopoly to Perfect Competition | |||
1. C | 3. A | 5. D | 7. C |
2. C | 4. B | 6. E | |
Market Structure: Oligopoly | |||
1. B | 6. C | 11. A | 16. D |
2. E | 7. D | 12. E | 17. B |
3. E | 8. A | 13. A | |
4. C | 9. C | 14. A | |
5. E | 10. A | 15. E | |
Resource Markets | |||
1. B | 4. B | 7. A | 10. D |
2. B | 5. E | 8. A | 11. C |
3. A | 6. C | 9. B |