Refer to the following table that gives the demand facing a monopolist: 
Demand is ________ between 65 and 70 units of output because marginal revenue in that range is ________.
A. elastic, $100
B. inelastic, negative
C. inelastic, positive
D. elastic, $50
Answer: B
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Individual economic decisions are coordinated by
A) markets through adjustments in sales levels. B) markets through adjustments in prices. C) government through adjustments in sales taxes. D) government through adjustments in income taxes.
Why do governments prefer to avoid current account deficits that are too large?
What will be an ideal response?
The manager of Steel Works learns of a new technological interdependency between the first stage and the intermediate stage of production. If Steel Works currently contracts with another firm for the first stage of production, which of the following is true?
A) The manager has more of an incentive to integrate backward. B) The manager has more of an incentive to integrate forward. C) The manager has less of an incentive to integrate backward. D) The manager has less of an incentive to integrate forward.
Fluctuations in the foreign ________________ rate can affect an economy’s ability to repay its outstanding international debt in the short run.
a. unemployment b. exchange c. production d. return