In the 1990s the U.S. rate of inflation was held down by each of the following except
A. imported goods.
B. the rise of huge discount retailers.
C. rising exports.
D. the efforts of business firms to raise their efficiency and productivity.
C. rising exports.
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Suppose nominal GDP equaled $10,988 billion while the M2 money supply was $6,063 billion. What was the velocity of the M2 money stock?
a. 0.45 b. 0.55 c. 1.81 d. 2.36
A perfectly competitive firm is operating where its total revenue equals its total cost. In the short run, if market demand increases, this firm will have an economic
a. loss and reduce output b. loss while expanding output c. profit and reduce output d. profit while expanding output e. profit, but will not change output
A good that is excludable but not rival is known as a club good
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 13.1 below to answer the question that follows.
Figure 13.1Refer to Figure 13.1. The demand curve for insulin is most likely represented by
A. Panel A. B. Panel B. C. Panel C. D. Panel D.