Hutch Technology makes computer monitors, which sell for $100 each. What is the opportunity cost of ten monitors?
a. $1,000.
b. the other goods that could be produced with the resources that produce the ten monitors
c. the profits that Hutch earns when it sells the ten monitors
d. the profits that Hutch loses if it does not produce the monitors
e. All of the above are correct.
b
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With respect to economic freedom, which of the following is TRUE?
A) Three out of four people live in nations with governments that grant residents high degrees of economic freedom. B) About three dozen nations with governments unwilling to grant much in the way of economic freedom are home to two-thirds of the world's population. Even so, these countries produce over 50 percent of the world's output. C) Where governments do not grant residents a high degree of economic freedom, economic growth rates tend to be above the annual average for the world's nations. D) As economic freedom increases, so does a nation's prospects for economic growth.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C