The U.S. inflation rate ________ in the 1960s and 1970s, ________ in the 1980s, and ________ in the 1990s and 2000s
A) was steady; rose sharply; fell
B) was steady; rose sharply; remained high
C) rose; fell sharply; remained low
D) rose; fell sharply; rose again
C
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Assume that Figure 4-16 shows the supply of steak. An increase in the price of cattle feed will change the supply from
A. S1to S2. B. S2to S1. C. S2to S3. D. S1to S3.
In one year, a weapons plant can manufacture either 1,000 more guns or 50 more tanks. The plant's opportunity cost of an extra gun is approximately
a. 50 tanks b. 20 guns c. 20 tanks d. 1/20 of a tank e. 1/50 of a tank
In response to the financial crisis of 2007-2009, the Federal Reserve
A. raised the fed funds rate from 2.0 percent to 5.25 percent. B. raised the discount rate from 2.0 percent to 5.25 percent. C. cut the fed funds rate from 5.25 percent to 2.0 percent. D. cut the discount rate from 5.25 percent to 2.0 percent.
Which of the following sequences would cause E1 to shift to E2?
a. P1 decreases to P2; D1 decreases to D2; Q1 decreases to Q2
b. P1 decreases to P2; Q1 decreases to Q2; D1 decreases to D2
c. D1 decreases to D2; P1 decreases to P2; Q1 decreases to Q2
d. Q1 decreases to Q2; D1 decreases to D2; P1 decreases to P2