If the price level increased from 200 to 250, then what was the inflation rate?
a. 50 percent
b. 25 percent
c. 20 percent
d. None of the above is correct.
b
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Suppose the United Automobile Workers union agrees to accept lower wages for members if the automobile manufacturers lower their prices to buyers
Will the UAW's measures usually result in a larger number of cars being sold and hence more jobs for UAW members? A) No, because people only buy new cars when they need them. B) Not if the price elasticity of demand for new cars turns out to be less than one. C) Only in the unlikely event the demand for new cars is unit elastic. D) Probably not, because new car sales depend on advertising. E) Yes.
Refer to Figure 11-4. Suppose the per-worker production function in the figure above represents the production function for the U.S. economy
If the United States decided to cut its support of university research in half, this would cause a movement from A) B to E. B) B to D. C) B to A. D) B to C.
Which of the following is missing from the circular flow model depicted in the textbook?
a. businesses b. factors of production c. banks d. what households spend their money on e. goods and services