Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If three microwave ovens are produced, average variable costs are
A. $50.
B. $66.67.
C. $100.
D. indeterminate from this information.
Answer: B
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Which of the following will increase both money supply and money demand in the short run?
a. An open market sale of bonds by the Fed b. An open market purchase of bonds by the Fed c. An increase in government purchases d. A decrease in taxes e. An increase in autonomous consumption
The federal funds rate is the interest rate that
a. the government charges banks who borrow from it b. the Fed charges banks who borrow from it c. the federal government pays to borrow money d. federally or nationally chartered banks charge their customers for commercial loans e. banks charge other banks for short-term loans
In a mixed economy
a. all economies choose the same mix of private and public involvement in the economy. b. the government is more important than the private sector in generating output. c. there is some government influence over the workings of the free market. d. all of the above.
According to the Economic Freedom of the World measure, the United States was
a. the freest economy in the world during 1980-2000. b. the third freest economy in the world, behind only Hong Kong and Singapore during 1980-2000. c. less free than Australia and Canada throughout the 1980-2000 era. d. less free than the large economies of Western Europe throughout the 1980-2000 era.