Figure 18.2Refer to Figure 18.2. In autarky, the maximum amount of fishing poles that Macadamia can produce is:
A. 40.
B. 100.
C. 120.
D. 160.
Answer: C
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Which of the following is CORRECT about a time-series graph?
I. The x-axis measures time. II. A time-series graph can reveal if there is a trend in the variable. A) only I B) only II C) both I and II D) neither I nor II
Two actions by the Fed during Alan Greenspan's term as chairman have been identified as possibly contributing to the financial crisis in 2008. Which of the following was one of those actions?
A) working in concert with the European Central Bank to stabilize the dollar / euro exchange rate B) financing the first Gulf War by printing money and generating rapid inflation C) decreasing the money supply to fight the possibility of disinflation D) the decision to keep the federal funds rate at 1 percent from June 2003 to June 2004
For a monopsonistic hirer of labor, the gap between labor's marginal revenue product and its wage rate will be greater:
a. the more elastic the supply curve for labor. b. the more inelastic the supply curve for labor. c. the more elastic the firm's demand for labor. d. the more inelastic the firm's demand for labor.
From Table 2.2, which column is the one for surplus? 
A. column A B. neither A nor B C. column B D. either A or B are equally likely