Refer to the data provided in Table 9.1 below to answer the question(s) that follow.
Table 9.1
Refer to Table 9.1. If the market price is $17, then in the long run the firm will
A. operate and expand.
B. operate but not expand.
C. shut down, but not go out of business.
D. go out of business.
Answer: D
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What is the main reason the Fed operates in a political arena?
A) It lacks a constitutional mandate. B) The members of the Board of Governors must run for reelection every fourteen years. C) The members of the Board of Governors are typically prominent politicians. D) It is under the direct control of Congress.
In the short-run macro model, adjustment toward equilibrium is facilitated by price changes
a. True b. False
Total output equals total income
a. only at equilibrium. b. always. c. only at non-equilibrium levels of income. d. never.
Can the U.S. dollar and the European euro both appreciate relative to each other?
a. Yes, both countries can gain in this manner. b. Yes, provided the central banks permit it. c. No, unless there is a system of fixed exchange rates. d. No, if one currency appreciates, the other must depreciate.