The figure above shows the market for airline tickets. In early 2008 firms negotiated lower wages with their workers. This change is shown in the figure as a shift from
A) D0 to D1.
B) D1 to D0.
C) S0 to S1.
D) S1 to S0.
C
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How does the Fed decide which monetary measure should be the focus of its monetary policy choices?
A) The Fed would like to track a monetary measure that is most closely related to the market interest rate. B) The Fed would like to track a monetary measure that is most closely related to the quantity of money demanded by economic agents. C) The Fed would like to track a monetary measure that is most closely related to the level of real GDP and the price level. D) The Fed would like to track a monetary measure that is most closely related to government spending.
Which of the following statements about real GDP per capita is correct?
A. Real GDP per capita is inversely related to quality of life measures such as productivity and life expectancy. B. Real GDP per capita is more accurately recorded in IACs than in LDCs. C. Countries with higher real GDP per capita have lower per capita energy consumption. D. Real GDP per capita in the United States is about seven times larger than in Ethiopia.
Refer to the information provided in Figure 34.3 below to answer the question(s) that follow.
Figure 34.3Refer to Figure 34.3. If fewer British firms want to invest in the United States, the supply of pounds will
A. shift from S1 to S0. B. shift from S2 to S0. C. shift from S1 to S2. D. not change.
In the short run, if average variable cost equals $50, average total cost equals $75, and output equals 100, the total fixed cost must be:
A. $25. B. $2,500. C. $5,000. D. $7,500.