Parallel markets is another term for:
a. government interventions.
b. interbank trades.
c. black markets.
d. trade in goods and in services
Ans: c. black markets.
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In 1995, the CPI was 152.5 and the price of an economics textbook was $70.00 and a music CD was $16.00. If the CPI was 172.3 in 2011, what were the prices of the economics textbook and the music CD in 2011 dollars?
What will be an ideal response?
If the price level in the current period is higher than what buyers and sellers anticipated,
a. profit margins will be unattractive and firms will expand output. b. profit margins will be unattractive and firms will reduce output. c. profit margins will be attractive and firms will expand output. d. profit margins will be attractive and firms will reduce output.
Total revenue equals
A) price per unit times quantity sold. B) price per unit times quantity supplied. C) price per unit times change in quantity sold. D) change in price per unit times quantity sold.
Refer to the information provided in Figure 13.4 below to answer the question(s) that follow. 
Figure 13.4Refer to Figure 13.4. The profit-maximizing level of output for this monopolist is ________ units of output.
A. 20 B. 22 C. 24 D. 26