The existence of an inflationary gap should cause
A. wages to fall.
B. prices to fall.
C. unemployment to rise.
D. net exports to rise.
Answer: D
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Which of the following can be used to diagnose infections by detecting specific antibodies in a patient's serum?
a. DNA fingerprinting b. PCR c. Western blotting d. ELISA e. Western blotting and ELISA
Based on the data in the table, this Application addresses the economic concept of
A) the real-nominal principle. B) the principle of diminishing returns. C) the principle of voluntary exchange. D) the marginal principle.
The federal funds rate is closely tied to many interest rates on many types of loans. Which one is the exception?
a. Auto loan rates b. Adjustable rate mortgages c. Adjustable rate home equity loans d. 30-year Treasury bonds e. Business loans
In a competitive market, profit can be considered a reward to businesses that
a. produce a good that consumers value more highly than its component resources. b. reduce the value of resources used as inputs in production. c. prohibit rival firms from entering the market and competing. d. control costs, rather than following the wishes of consumers when deciding what products to produce.