_____ are more likely to arise from a group that is easily identifiable, rather than from a group where some of those who suffered may not even recognize that ________.

In order for a good to be classified as ______ , when one person uses the good, others are also able to use it.

The        is the quantity where quantity demanded and quantity supplied are equal at a certain price

Supply is said to be                       when the quantity supplied is very responsive to changes in price.

When one nation can produce a product at lower cost relative to another nation, it is said to have a(n) in producing that product.

Many economists believe that the trend toward greater wage inequality across the U.S. economy was primarily caused by        .

Kim has $24 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $8 while each yoga class costs $3. The total utility from each of these activities is set out in the table below. What is Kim’s total utility maximizing point?   Movies Total Utility Yoga Classes Total Utility 0 0 0 0 1 40 1 30 2 75 2 55 3 105 3 76 4 130 4 92 5 160 5 106     6 114     7 116     8 117

In the ______, the perfectly competitive firm will react to losses by ______.

Price D1 D2 S1 S2 $4 5 9 19 14 $6 8 12 17 12 $8 11 15 15 10 $6 13 18 13 8 $4 16 21 11 6 $2 18 24 9 4   If D2 and S1 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are      and       , respectively.

Governments that attempt to intervene in exchange rate markets through soft pegs or hard pegs: