Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C
B. Falling; A; C
C. Falling; A; B
D. Rising; A; C
Answer: D
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If the farm adopted a new technology, which allows it to use fewer resources to fatten chickens, explain how the farm's production possibilities will change. Explain how the opportunity cost of producing a bushel of soybean will be affected
What will be an ideal response?
The Federal Reserve cut the federal funds rate seven times between September 2007 and March 2008. What event led the Fed to make these reductions in the federal funds rate?
A) The chairman of the Federal Reserve System persuaded members of the Federal Open Market Committee to lower interest rates in order to reduce the price of oil in international markets. B) During this period there was a substantial reduction in the demand for housing. C) It was in response to reductions in the discount rate, which was also lowered seven times over the same time period. D) Several large investment banks failed during this time period.
Monetary policy pushed interest rates to historically low levels during 2002-2004, but was more restrictive during 2005-2006 . Economic analysis indicates that this policy
a. helped to smooth the ups and downs of the business cycle during this era. b. contributed to the boom and bust of the housing market, and thereby the instability of this era. c. contributed to the housing bust of 2002-2004, but helped to restore stability to the housing market in 2006-2008. d. helped to bring inflation under control during 2002-2004, and thereby established a foundation for a strong recovery during 2007-2010
Steve Jobs and Apple achieved tremendous successes with iMac, iPhone, iPad by:
A. Developing and producing these products in foreign locations B. Outsourcing the development and production to other companies C. Developing and producing both hardware and software D. Mimicking, with great speed, its rivals and competitors