Most of the state and local government employees are in what area?
A. Education
B. Highways
C. Health care
D. Administration
Answer: A
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Negative inflation rates benefit lenders because
A. the real interest rate is negative. B. the nominal interest rate is negative. C. the nominal interest rate is positive. D. the real interest rate is positive.
Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for rice. What happens in this market if buyers expect the price of rice to fall?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
In Table 11-2, marginal revenue at the profit-maximizing output is how much?
a. $7
b. $110
c. $8
d. $5
Exhibit 10-4 Kinked demand curves
In Exhibit 10-4, the exhibit represents a kinked-demand oligopoly model. Suppose the current price is $50. If one firm in the oligopoly now attempts to raise price, all firms will:
A. follow along demand curve D1. B. follow along demand curve D2. C. ignore this price increase and cause the price-raising firm to move along D1. D. ignore this price increase and cause the price-raising firm to move along D2.