In 2007, the U.S. sold $73 million of cigarettes to Iran. Iran paid for these cigarettes using
A) dollars.
B) rials, the Iranian currency.
C) euros.
D) pounds.
A
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The figure below shows the supply and demand curves for oranges in Smallville. 
At the price of $4 per pound, sellers offer ________ pounds of oranges per day, and buyers want to purchase ________ pounds of oranges a day.
A. 30; 10 B. 20; 20 C. 10; 20 D. 10; 30
What is the impact of a government subsidy to producers?
A) Less is produced relative to the efficient level, creating a deadweight loss. B) More is produced relative to the efficient level, creating a deadweight loss. C) Producer surplus is increased, which creates a larger consumer surplus. D) Producers are able to sell the product at a higher price. E) Consumers must pay a higher price for the good.
The national economic forecast for the next two years prepared by the staff of the Board of Governors is published in the
A) green book. B) beige book. C) blue book. D) Fed book.
Figure 11.4Figure 11.4 depicts demand and costs for a monopolistically competitive firm. In the long run we expect:
A. more firms to enter the market. B. the firm's demand curve to shift to the left. C. the firm's average cost of production to increase. D. All of these