If the annual inflation rate is 5 percent a year, about how many years will it take for the price level to double?

A. 10 years
B. 16 years
C. 14 years
D. 12 years


Answer: C

Economics

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When the monopolist decides to supply a given amount to the market, it will:

A. set the price equal to marginal cost. B. set the price higher than what demanders are willing to pay for that amount. C. only sell that amount if it charges what the demanders are willing to pay for that amount. D. set the price lower than the demand curve to create a perceived shortage.

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What is the value of the index of intra-industry trade for an industry in which exports are $100 million and imports are $200 million?

a. 100/300 = 0.33 b. (100 + 200)/100 = 3.00 c. 100/[1/2 × (100 + 200)] = 0.67 d. 100/200 = 0.50

Economics

Which of the following is a strong assumption for static and finite distributed lag models??

A. ?Sequential exogeneity B. Strict exogeneity C. ?Dynamic completeness D. Homoskedasticity

Economics

The rising portion of a perfectly competitive firm's marginal cost curve, above the intersection with AVC, is its

A) demand curve. B) economic profit. C) supply curve. D) accounting profit.

Economics