In the countries that have adopted inflation targeting, the inflation rate has typically
A) increased.
B) decreased.
C) decreased to zero.
D) not changed.
Answer: B
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The percentage of money income earned by the lowest fifth of families in the U.S. was ________ in 1960 and ________ in 2010
A) 41.3%; 47.8% B) 15.9%; 20.0% C) 12.2%; 9.5% D) 4.8%; 3.8%
Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $5, what is the value of marginal product of the 4th worker?
A) $300 B) $50 C) $70 D) $10
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. Which of the following best represents Alice's inverse residual demand function?
A. P(QA) = (100 - 0.005QA) - 0.005QK B. P(QA) = (100 - 0.005QK) - 0.005QA C. P(QA) = (200 - 0.005QA) - 0.005QK D. P(QA) = (200 - 0.005QA) - 0.005QA
From an initial IS-LM equilibrium with normally-sloped IS and LM curves, the money supply falls. At the new IS-LM equilibrium we have some combination of a ________ income and a ________ interest rate
A) higher, higher B) higher, lower C) lower, higher D) lower, lower