If the growth rates of nominal GDP and real GDP in an economy are 6% and 2% respectively, the inflation rate in the economy must be:
A) 2%. B) 8%. C) 4%. D) 3%.
C
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The economy is currently operating at a point on its physical production possibilities frontier (physical PPF). It is
A) producing Natural Real GDP and operating below the natural unemployment rate. B) producing more than Natural Real GDP and operating above the natural unemployment rate. C) producing more than Natural Real GDP and operating below the natural unemployment rate. D) in long-run equilibrium.
If Country X has a higher labor productivity than the rest of the world in the production of a good, then Country X has a comparative advantage in the production of the good.
Answer the following statement true (T) or false (F)
Only corporations benefit from limited liability
Indicate whether the statement is true or false
Refer to the information provided in Figure 13.3 below to answer the question(s) that follow. 
Figure 13.3Refer to Figure 13.3. This firm's marginal revenue will be positive at
A. $14. B. prices between $8 and $12. C. $6. D. all prices.