Refer to the information provided in Figure 9.4 below to answer the question(s) that follow. 
Figure 9.4Refer to Figure 9.4. In the short run, if economic conditions do not change, this firm should produce ________ units of output and will earn a total revenue ________.
A. 100; of $800
B. more than 100; > $800
C. less than 100; > $0 but < $800
D. 0; of $0
Answer: D
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In the classical model, a temporary increase in government purchases causes
A) a decrease in output and the real interest rate. B) a decrease in output and an increase in the real interest rate. C) an increase in output and a decrease in the real interest rate. D) an increase in output and the real interest rate.
With increases in inflation demand for money that does not earn a return decreases. Carrying less cash in our pockets means higher ________
A) shoe-leather costs B) menu costs C) capital gain tax bills D) all of the above E) none of the above
Let M = 36, k = 3, Ls = W/P, MPN = L-1/2 and Y = 2L1/2 . Calculate the labor demand curve, the aggregate demand curve, and the equilibrium values of the real wage, labor, output, and the price level
What will be an ideal response?
MC increases because
A) MC naturally increases as the firm nears capacity. B) labor is paid overtime wages when volume increases. C) in the short run, MC always increases. D) the law of diminishing returns takes effect.