In efficient markets, ________ flows toward ________ opportunities.
A. investment capital; profit
B. consumption; profit
C. investment capital; consumption
D. consumption; investment
Answer: A
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Even though the catalogs listed in the Application were reissued every six months, the prices which were tracked in these retail catalogs
A) were not listed due to low rates of inflation. B) changed every month. C) tended to fall during periods of high inflation. D) were typically fixed for a year or more.
Which of the following is a lesson that can be learned from monetary policy during the Great Depression?
a. Monetary policy should be changed frequently in response to economic fluctuations. b. Prolonged periods of monetary contraction will retard economic growth. c. Low interest rates will direct an economy toward recovery. d. Monetary policy should focus on variables such as output and employment.
You have an hour between your economics and math classes. What is the opportunity cost of that time if you use it to complete your math homework instead of your economics homework?
A. the economics homework you could have completed B. the math homework you chose to complete C. the cost of your calculator and math textbook D. zero, because it doesn't cost any money to do your math homework