Monetary policy pushed interest rates to historically low levels during 2002-2004, but was more restrictive during 2005-2006 . Economic analysis indicates that this policy
a. helped to smooth the ups and downs of the business cycle during this era.
b. contributed to the boom and bust of the housing market, and thereby the instability of this era.
c. contributed to the housing bust of 2002-2004, but helped to restore stability to the housing market in 2006-2008.
d. helped to bring inflation under control during 2002-2004, and thereby established a foundation for a strong recovery during 2007-2010
B
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The long run for the industry is defined as a period of time long enough for
a. any new firm that desires to enter the industry. b. any old firm that desires to leave the industry. c. all aspects of production to vary and there are no fixed costs. d. All of the above are correct.
Suppose Japanese-based Toshiba Corporation builds and operates a new computer factory in the United States. Future production from such an investment will
a. increase U.S. GNP more than it increases U.S. GDP. b. increase U.S. GDP more than it increases U.S. GNP. c. have no affect on U.S. GNP, but will increase U.S. GDP. d. have no affect on U.S. GNP or GDP.
According to research by Robert Fogel, what proportion of the increase in the standard of living in Britain between 1790 and 1980 can be accounted for by greater caloric intake?
a. 10 percent b. 20 percent c. 30 percent d. 40 percent
Refer to the information provided in Figure 7.10 below to answer the question(s) that follow. 
Figure 7.10Refer to Figure 7.10. The firm's level of total cost is represented by the given isocost line. At the optimal combination of capital and labor, the firm produces ________ units of output.
A. 100. B. 200. C. 300. D. indeterminate from this information.