Recall the Application about the government of Mexico City repainting highway lane lines to transform a 4-lane highway into a 6-lane highway to answer the following question(s).When computing percentage changes, using the simple approach results in increases and decreases which are:
A. identical.
B. symmetric.
C. not symmetric.
D. more accurate than using the midpoint method.
Answer: C
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If the rate of inflation is zero, prices are expected to remain stable, and the nominal rate of interest is 5 percent, then the
A) real rate of interest is equal to the nominal rate. B) real rate of interest is less than the nominal rate. C) nominal rate is greater than the real rate of interest. D) investment demand schedule will shift upward.
The supply curve for a good is a line that relates
a. profit and quantity supplied. b. quantity supplied and quantity demanded. c. price and quantity supplied. d. price and profit.
The table below shows how the payoffs to two political candidates depend on whether the candidates run a positive or negative campaign. The payoffs are given in terms of the percentage change in the number of votes received. 
In the Nash equilibrium of this game:
A. both candidates run negative campaigns. B. one candidate runs a positive campaign, and the other runs a negative campaign. C. as long as one party runs a positive campaign, the other does too. D. both candidates run positive campaigns.
Use the following graph of the market for milk to answer the question below.
If 30 million gallons of milk are being produced, then we know marginal benefit
A. is less than marginal cost. B. and marginal cost do not depend on the quantity. C. is greater than marginal cost. D. equals marginal cost.