Figure 10-8
?
Figure 10-8 describes which of the following periods in the United States?
A. 1930s
B. 1973–1975
C. late 1990s
D. 2007–2009
Answer: B
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Microeconomics is concerned with
A. the aggregate or total levels of income, employment, and output. B. a detailed examination of specific economic units that make up the economic system. C. the establishing of an overall view of the operation of the aggregate economic system. D. how government debt affects aggregate economic activity.
The DD schedule shows
A) interest rate and output pairs for which aggregate demand equals aggregate output. B) exchange rate and output pairs for which aggregate demand equals aggregate output. C) exchange rate and output pairs for which aggregate supply equals aggregate output. D) interest rate and output pairs for which aggregate supply equals aggregate output. E) exchange rate and output pairs for which aggregate demand is greater than aggregate output.
There are several government agencies in the United States that regularly check the balance sheets of banks. This is done to ensure that: a. banks take on risky projects that will earn high returns. b. banks have a positive net worth. c. banks earn sufficient profits
d. banks lend to customers with poor credit ratings.
When market conditions in a price-taker market are such that firms cannot cover their production costs,
a. the firms will suffer long-run economic losses. b. the firms will suffer short-run economic losses that will be exactly offset by long-run economic profits. c. some firms will go out of business, causing prices to rise until the remaining firms can cover their production costs. d. all firms will go out of business, since consumers will not pay prices that enable firms to cover their production costs.