If the annual interest rate is 5% (.05), the price of a three-month Treasury bill would be:
A. $95.00
B. $98.79
C. $98.75
D. $97.59
Answer: B
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
The largest component of GDP is
a. tax revenue b. government purchases of goods and services c. the nation's capital stock d. private investment spending e. private consumption expenditures
When competing power blocs exist within an oligopolistic industry,
a. concentration ratios are low b. the laissez-faire approach can be justified c. prices are higher than under monopoly d. nationalization is necessary e. contestable markets exist by definition
Suppose Quarto Inc produces and sells dresses in a perfectly competitive market. Which of the following would be the firm's profit-maximizing outcome?
a. The firm earns a total revenue of $250 if it produces 10 dresses at a total cost of $500. b. The firm earns a total revenue of $1,000 if it produces 20 dresses at a total cost of $800. c. The firm earns a total revenue of $3,000 if it produces 30 dresses at a total cost of $1,000. d. The firm earns a total revenue of $3,500 if it produces 40 dresses at a total cost of $2,000.