Assuming that Figure 7.1 is a market for money that can be borrowed or saved, Box 4 is 
A. "$*" for the equilibrium amount borrowed/saved.
B. "r" for interest rate.
C. "$" for the amount borrowed/saved.
D. "r*" for equilibrium interest rate.
Answer: A
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If macaroni and cheese is an inferior good, an increase in income will
A) not affect the demand for macaroni and cheese. B) decrease the demand for macaroni and cheese. C) increase the demand for macaroni and cheese. D) create no income effect.
On the eve of the Civil War, __________ power was more important than _____________ power, but by the end of the 19th century, 90 percent of manufacturing energy came from _________
a. animal; water; steam b. steam; water; electricity c. wind; water; petroleum d. water; steam; coal
Suppose you were working for Richstone's bakery and calculating whether the bakery was making a profit, considering the recent increase in rent. You have data for price (P), MR, ATC, MC, AVC, at the quantity of 1,000 breads a day. Among the other relationships you consider is (P – ATC) which measures the firm's
a. total profit b. profit per unit of output c. marginal profit d. total revenue e. average variable cost
Once a cartel is formed, the market is in effect served by
a. a monopoly. b. an oligopoly. c. imperfect competition. d. monopolistic competition.