If ________ equilibrium output ________, the price level rises.
A. potential; is equal to actual GDP
B. actual; is below potential GDP
C. potential; exceeds actual GDP
D. actual; exceeds potential GDP
Answer: D
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Approximately how long will it take Ethiopia to double its real GDP per person of $100 if its growth rate of real GDP per person is 0.9 percent?
A) 63 years B) 77.7 years C) 70 years D) 109 years E) 100 years
If you lost 10 percent on $200 worth of stock in a 2x margin account, then you would:
A. lose $20. B. gain $40. C. gain $20. D. lose $40.
Hotelling's model has been used to describe differentiation in the political "market." Suppose that 100 voters are evenly distributed between the extreme left and the extreme right on the political spectrum, and that all voters vote, and they always vote for the candidate closest to them on this spectrum. The numbers on this spectrum represent the number of voters lying to the left of the number. So, at the midpoint, fifty voters lie to the left and fifty to the right. At the extreme right end, all 100 voters lie to the left. 
Suppose Candidate X is running against Candidate Y. If Candidate Z enters the race:
A. all of the voters who were going to vote for Y will now vote for Z. B. X will win because Y and Z will be competing for the same voters. C. approximately half of the voters who were going to vote for X will now vote for Z. D. most of the voters who were going to vote for Y will now vote for Z.
If the demand for air travel were to change so that business travelers and vacationers have the same price elasticity of demand for air travel
A) airlines would charge the same price to each type of flyer. B) airlines would still charge business flyers a higher fare since the traveler's employer pays anyway. C) airlines would be driven out of business. D) airlines would counter by charging vacationers a higher fare.