Figure 10-3
Starting from long-run equilibrium at point A in , at which of the following points would short-run equilibrium occur immediately following an unanticipated increase in stock prices?
a.
A
b.
B
c.
C
d.
D
b
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A major U.S. motive for negotiating a free-trade agreement with Mexico was to
a. increase immigration into the United States b. encourage Mexico's recent drive to achieve a more market-oriented economy c. keep Mexico from going Communist d. achieve, ultimately, political union with Mexico e. help foster the study of the Spanish language in the United States as a means to trading with all Spanish-speaking countries
The production possibilities curve illustrates the basic principle that
a. an economy's capacity to produce is unrelated to its population. b. if all the resources of an economy are being used efficiently, more of one good can be produced only if more of another good is produced. c. an economy will automatically move toward a point at which all of its resources are being used inefficiently. d. if all the resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.
Spending on Social Security and Medicare as a part of the federal budget has grown to what percent by 2013?
a. 15 percent b. 25 percent c. 35 percent d. 45 percent
In order to maintain high prices, a cartel must get its members to
A. develop new sources. B. leave production unchanged. C. reduce production. D. increase production.