Exhibit 6-15 Long-run average cost
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In Exhibit 6-15, short-run average total cost, short-run marginal cost, and long-run average cost are all equal at which level of output per week?
A. 500 units.
B. 1,000 units.
C. 1,500 units.
D. 2,000 units.
Answer: B
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The above figure shows a linear (straight-line) demand curve. Starting at point A and then moving to point B and then point C, the price elasticity of demand
A) increases. B) decreases. C) increases and then decreases. D) decreases and then increases.
In the economy of Talikastan in 2015, consumption was $5000, exports were $400, government purchases were $1000, imports were $600, and investment was $1200 . What was Talikastan's GDP in 2015?
a. $6200 b. $6400 c. $7000 d. $8200
The country is experiencing rapid inflation. What could the Fed do reduce the money supply and slow inflation?
a. buy government bonds b. lower the reserve ratio c. sell government bonds d. lower the discount rate
Refer to Table 9-7. The table shows entries on the balance sheets for the Federal Reserve and the banking system above. These balance sheet entries are consistent with
A) an open market sale of $1,500 in bonds. B) an open market purchase of $1,500 in bonds. C) neither an open market sale nor an open market purchase. D) either an open market sale or an open market purchase.