Whom among the following was a classical economist?
A. David Ricardo
B. Jean-Baptiste Say
C. Adam Smith
D. all of these
Answer: D
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Which is the most important category of Fed assets?
A) securities B) discount loans C) gold and SDR certificates D) cash items in the process of collection
The following linear demand specification is estimated for Conlan Enterprises, a price-setting firm:Q = a + bP +cM +dPRwhere Q is the quantity demanded of the product Conlan Enterprises sells, P is the price of that product, M is income, and PR is the price of a related product. The results of the estimation are presented below: 
For the next 2 questions suppose income remains at $10,000 but the price of the related good increases to $60 and Conlan decides to raise the price of its product to $50. What is the new own price elasticity of demand?
A. -0.87 B. -1.26 C. -0.24 D. -0.43 E. -1.00
Which of the following statements would John Maynard Keynes most likely agree with?
a. “All income generated from output is used to buy goods and services.” b. “Supply automatically creates adequate demand.” c. “Income is always spent in the period that it is produced.” d. “A decline in investment leads to insufficient total spending.”
Relative to a cure for AIDS, the demand for an AIDS vaccine would be
A. more inelastic. B. equal in elasticity. C. more elastic. D. not as elastic.