Data on output and planned aggregate expenditure in Macroland are given below.Output (Y)Planned Aggregate Expenditure (PAE)2,0002,3003,0003,2004,0004,1005,0005,0006,0005,900 Based on these data, the short-run equilibrium level of output is:
A. 4,100.
B. 5,000.
C. 3,200.
D. 2,000.
Answer: B
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Suppose that under its collective bargaining agreement, the XYZ Co can only hire union members in good standing at the time of hiring. XYZ Co is
A) a union shop. B) a closed shop. C) an open shop. D) a company union.
What is the percentage of income received by the lower two quintiles on line X?
The payoff matrix below shows the payoffs (in millions of dollars) for two firms, A and B, for two different strategies, investing in new capital or not investing in new capital. 
An industry spy comes to firm B and offers to pay B in exchange for B's certain and enforceable promise to not invest. How much must the spy pay B?
A. At least $15 million. B. At least $50 million. C. $0 D. At least $35 million.
If the income elasticity of a good is ?1.8, this means this good is a(n):
A. luxury good. B. substitute good. C. complementary good. D. inferior good.