The higher the expected rate of inflation,
A. the higher the real and nominal rates of interest.
B. the higher is the real rate of interest.
C. the lower is the nominal rate of interest.
D. the lower is the real rate of interest.
Answer: D
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The figure below shows the demand curve, marginal revenue curve, marginal cost curve and average total cost curve for a monopolist. 
The socially optimal level of output is:
A. 4 units per day. B. 5 units per day. C. 10 units per day. D. 8 units per day.
Using the data in the above table, at the price of $80 a phone, a
A) shortage of 25 thousand cellular telephones occurs. B) surplus of 80 thousand cellular telephones occurs. C) surplus of 25 thousand cellular telephones occurs. D) shortage of 55 thousand cellular telephones occurs.
Life expectancy at birth in the United States has more than doubled since 1850
Indicate whether the statement is true or false
Refer to the following graphs.
In the early 1990s, mounds of newspapers and worthless plastic piled up at recycling centers. As the nation's economy continued to grow, increased demand eliminated the mounds and turned them into shortages. In the mid-1990s, as recycling became more popular, the mounds of recycled materials returned. What graph best depicts these events on the market for recycled materials?
A. Price remained constant at P0. Demand shifted from D0 to D1 and then back to D0. B. Price remained constant at P0. Supply first shifted from S1 to S0 and then back to S1. C. Price remained constant at P0. Demand shifted from D0 to D1 then supply shifted from S0 to S1. D. Price remained constant at P0. Quantity demanded first rose, while supply remained constant; quantity supplied then rose, while demand remained constant.