From Table 2.1, which column is likely to be the one for quantity demanded? 
A. column A
B. neither A nor B
C. column B
D. either A or B are equally likely
Answer: C
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Refer to Figure 3-6. The figure above represents the market for coffee grinders. Compare the conditions in the market when the price is $15 and when the price is $21. Which of the following describes how the market differs at these prices?
A) At each price the demand for coffee grinders exceeds the supply of coffee grinders. B) At each price there is a shortage; firms will raise the equilibrium price in order to eliminate the shortage. C) At each price there is a shortage; the shortage is greater at $15 than at $21. D) The difference between quantity supplied and quantity demanded is greater at $21 than at $15.
Some claim that the long and agonizing periods of speculation preceding exchange rate realignments would
A) not occur under fixed exchange rate regime. B) not occur under floating. C) become more severe under currency board. D) become less severe under floating. E) be prolonged under floating.
The U.S. antitrust laws
A) aid monopolies in their quest to dominate the market for a good or service. B) are outdated and rarely used anymore. C) promote competition. D) are administered by the Department of Commerce.
Other things constant, an increase in resource prices will:
a. increase aggregate demand. b. decrease aggregate demand. c. decrease aggregate supply. d. increase aggregate supply.