Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow. 
Figure 8.5 Refer to Figure 8.5. If two drones are produced, total variable costs are
A. $25.
B. $30.
C. $50.
D. $80.
Answer: C
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Which of the following is not an exchange rate system?
a. Flexible exchange rates b. Crawling peg c. Fixed exchange rates d. Managed floating e. Purchasing power parity
Self-correcting mechanism reveals that
A. real wages will increase if there is an increase in price. B. nominal wages will fall if there is inflationary gap. C. nominal wages will increase if there is recessionary gap. D. in the long run economy will be in equilibrium at potential GDP.
If Figure 8.1 depicts the current situation for a monopolistically competitive firm, then in the long run we expect:
A. the firm's demand curve to shift to the left. B. the firm's demand curve to shift to the right. C. the price of the good to increase. D. the quantity of the good sold by the firm to increase.
Which of the following best describes the vicious cycle of poverty? a. Rich countries eventually decline because its citizens become lazy
b. Poor countries eventually improve through investment in education, infrastructure, and capital accumulation. c. Rich countries stay rich through continued high levels of investment in education, infrastructure, and capital accumulation. d. Poor countries stay poor because they cannot afford to invest in education, infrastructure, and capital accumulation.