Which of the following changes best represents the effect of the oil embargo (a shut-off of oil from certain OPEC countries) of the 1970s on the U.S. economy?
What will be an ideal response?
a leftward shift of the long-run aggregate supply curve
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In the above table, if the quantity sold by the firm rises from 5 to 6, its marginal revenue is
A) $15. B) $30. C) $75. D) $90.
When the production possibilities curve is a straight line, the opportunity cost of producing more of one good must be equal to the opportunity costs of producing more of the other good
Indicate whether the statement is true or false
Kendra is having difficulty deciding between two cars, A and B. As shown in the accompanying diagram, A has more cargo room than B, but lower gas mileage. Ideally Kendra would like a car both with a lot of cargo room and good gas mileage. 
If Kendra behaves like most decision-makers, then the addition of option C would:
A. have no impact on her choice of A and B. B. increase her likelihood of picking B. C. increase her likelihood of picking A. D. decrease her likelihood of buying a car.
Which of the following is not true about excess reserves?
A. They change when the reserve requirement changes. B. They are equal to the required reserve ratio times transactions deposits. C. They are bank reserves beyond what the bank is required to hold. D. They represent the dollars an individual bank can lend.