Refer to the information provided in Figure 6.15 below to answer the question that follows.
Figure 6.15Refer to Figure 6.15. If the price of a hot dog is $4, Jason's income is
A. $50.
B. $400.
C. $600.
D. indeterminate because the price of sandwiches is not given.
Answer: B
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If the price of monthly satellite TV service increases from $40 to $50, the percentage change is
A) 5 percent. B) 20 percent. C) 25 percent. D) 45 percent.
Which of the following statements is TRUE?
A) A perfectly competitive market produces more output and charges a lower price than a single-price monopoly. B) A perfectly competitive market produces more output and charges the same price as a single-price monopoly. C) A perfectly competitive market produces less output and charges a lower price than a single-price monopoly. D) A perfectly competitive market produces less output and charges the same price as a single-price monopoly.
If banks hold no excess reserves, checkable deposits total $1.5 billion, currency totals $400 million, and the required reserve ratio is 10%, then the monetary base equals
A) $550 million. B) $1.54 billion. C) $1.9 billion D) $15 billion.
In 1879 . President Rutherford B. Hayes had the first telephone installed in the White House, but it was rarely used because:
a. he didn't know what it was b. it kept breaking and no one could fix it c. hardly anyone else in Washington had a telephone, so there was no one to call or to call in d. hand written letters were considered a more correct form of correspondence