Some people consider the NCAA (National Collegiate Athletic Association) to be a __________ in the market for college athletics

Refer to Figure 10.8. Other things equal, a decrease in the nominal money supply would best be represented by

A) a movement from point A to point C. B) a movement from point A to point D. C) a shift from LM1 to LM2. D) a shift from LM2 to LM1.

If a society only cares about efficiency and not equity, then

A) all points on the contract curve yield the same level of social welfare. B) it will not rely on competitive markets to allocate goods. C) it will maximize the utility of its worst-off member. D) an equitable outcome is impossible.