A leftward shift of a product supply curve might be caused by
A. an improvement in the relevant technique of production.
B. some firms leaving the industry.
C. a decline in the prices of needed inputs.
D. an increase in consumer incomes.
Answer: B
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
If, for a $1000 premium, you buy a $100,000 put option on bond futures with a strike price of 114, and at the expiration date the price is 110, your ________ is ________
A) profit; $4000 B) loss; $4000 C) profit; $3000 D) loss; $3000
Suppose you were working for Richstone's bakery and calculating whether the bakery was making a profit, considering the recent increase in rent. You have the following data: P = $20, AVC = $10, AFC = $10, and quantity of birthday cakes produced a day is 20 . You conclude that the bakery ends up at the end of the day with a
a. loss of $10 b. profit of $10 c. loss of $20 d. no loss, no profit e. loss of $40
Why did it take almost 100 years before the United States had its own national currency?
What will be an ideal response?