Which of the following statements is true? a)Coca-Cola is a good for everyone, even someone who has an allergy to Coca-Cola. b) If you pay someone to take X off your hands, then it is likely that X is a bad. c) It is possible, but not likely, that someone can obtain both utility and disutility from a bad.

Kristin Taylor had a safety inspection performed on her car last week and it passed with flying colors. How is this likely to affect her future driving behavior, compared to a situation in which cars did not get safety inspections at all? a)She will probably drive slower, and the probability of having an accident is reduced. b) She will probably drive faster, and the probability of having an accident is increased. c) She will probably drive slower, and the probability of having an accident is increased.

Efficiency exists if a)marginal costs are greater than marginal benefits. b) marginal costs equal zero. c) marginal costs equal marginal benefits.

Which of the following statements is false? a)A straight-line production possibilities frontier represents increasing costs. b) A bowed outward production possibilities frontier represents constant costs. c) An efficient point is located on the production possibilities frontier. d) a and b

If there is always a constant tradeoff between goods A and B, the production possibilities frontier between A and B is a)Circular b) a downward-sloping straight line. c) a downward-sloping straight line that is broken at one point

Consider two points on the production possibilities frontier: point X, at which there are 100 cars and 78 trucks, and point Y, at which there are 90 cars and 70 trucks. If the economy is currently at point X, the opportunity cost of moving to point Y is a) 12 cars. b) 1 truck. c) 10 cars.