Consider an economy with a labor force of 100 million people. Each period, 60% of the unemployed population finds a job while 15% of the employed population loses their job. What is the steady-state unemployment rate in the economy?
A. 60%
B. 20%
C. 15%
D. 10%
E. 5%
Answer: B
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A patent is an exclusive right to produce and sell a product for how long?
(A) 30 years (B) 40 years (C) 15 years (D) 20 years
The terrorist attack on the World Trade Center on September 11, 2001:
A. did not have any significant impact since the risk on all bonds increased. B. caused the price of U.S. Treasury securities to fall and the yields on corporate bonds to fall. C. caused the demand for U.S. Treasury securities to fall and the demand for corporate bonds to rise. D. triggered a flight to quality in the bond market.
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If six microwave ovens are produced, Micro Oven's total fixed costs are
A. $50. B. $100. C. $300. D. indeterminate from this information.
One reason why the lowest wage rate is not necessarily the same as the efficiency wage is that workers might:
A. Be more productive at a higher wage rate B. Have more incentive to shirk at higher wage rates C. Be tempted to switch jobs more frequently at higher wage rates D. Be less inclined to work well at a higher wage rate