Refer to the information provided in Table 23.8 below to answer the question(s) that follow. Table 23.8
Refer to Table 23.8. At an aggregate output level of $4,000 million, the unplanned inventory change is
A. $1,200 million.
B. $400 million.
C. $0.
D. -$400 million.
Answer: D
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At the utility maximizing level, the ratio of the marginal utility of apples to oranges is 3:2 . If the price of an apple is $6, then the price of an orange is _____
a. $6 b. $4 c. $9 d. $8
The principle of horizontal equity is violated if two people who earn the same amount of income actually pay a different amount in taxes.
Answer the following statement true (T) or false (F)
Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Quick Buck cheats by reducing its price to $1 and Pushy Sales matches the price cut, then if consumers are evenly split between the two firms, what will be Quick Buck's economic profit?
A. $3,000 B. $1,000 C. $2,000 D. $1,500
The dire predictions about the underfunded nature of Social Security, Medicare, and state and local pensions could be wrong because
A. interest rates may turn out to be higher in the future. B. taxable incomes may turn out to be lower than they are currently predicted to be. C. modest changes to the programs could be enacted soon. D. unemployment rates may turn out to be higher than they are currently predicted to be.