Which of the following is a variable in the equation of exchange?
A. the price level.
B. the money supply.
C. all of these
D. real Gross Domestic Product (GDP).
Answer: C
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Consumer debt increases. What is the impact on aggregate expenditures and income?
A) Both increase. B) Both decrease. C) Aggregate expenditure increases and income decreases. D) Aggregate expenditure decreases and income increases.
The immediate effect of increased population growth, with real GDP growth unchanged, is to
A) reduce economic growth by reducing per capita real GDP. B) increase economic growth by stimulating more saving. C) increase economic growth by boosting the capital stock. D) leave economic growth unchanged.
For a firm in a perfectly competitive industry
A. short-run economic profits must be zero. B. both short-run and long-run economic profits may be negative. C. short-run economic profits may be positive, but long-run economic profits must be zero. D. short-run and long-run economic profits must be zero.
Refer to the information provided in Figure 15.3 below to answer the question(s) that follow. 
Figure 15.3 Refer to Figure 15.3. Gwen's Country Curtains is currently manufacturing 1,000 pairs of curtains per month. This firm
A. could increase profits by either increasing or decreasing the number of pairs of curtains it manufactures. B. should increase the number of pairs of curtains it manufacturers to maximize profit. C. should reduce the number of pairs of curtains it manufacturers to maximize profit. D. should continue to produce 1,000 pairs of curtains; it is already maximizing profits.