If, as a perfectly competitive industry expands, it can supply larger quantities only at a higher long-run equilibrium price, it is
A) a decreasing-cost industry. B) a fixed-cost industry.
C) a constant-cost industry. D) an increasing-cost industry.
D
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Refer to the figure below. 
In the figure, which interval represents a business cycle recession?
A. A to B B. A to C C. B to C D. B to D
If, at some interest rate, the quantity of money demanded is less than the quantity of money supplied, people will desire to
a. sell interest-bearing assets, causing the interest rate to decrease. b. sell interest-bearing assets, causing the interest rate to increase. c. buy interest-bearing assets, causing the interest rate to decrease. d. buy interest-bearing assets, causing the interest rate to increase.
Aggregate income is the sum of:
A. employee compensation, rent, and profits. B. employee compensation, rent, profits, interest, and transfer payments. C. employee compensation and profits. D. employee compensation, rent, profits, and interest.
Suppose your bank pays you 5 percent interest per year on your savings account. If prices increase by 5 percent per year over that time, approximately how much real value do you gain by keeping $100 in the bank for a year?
A. $0 B. $1 C. $3 D. $6