If the demand and supply for pickup trucks both increase, which of the following would happen?
a. Quantity becomes indeterminate.
b. Quantity falls.
c. Price rises.
d. Price becomes indeterminate.
d. Price becomes indeterminate.
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The price of coal fell and the quantity sold also fell. Everything else being equal, it is consistent that
a. the price of oil fell. b. coal miners received large wage increases. c. more efficient mining equipment was installed. d. consumer incomes rose. e. the supply of coal fell.
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. At the prices and income given above, Conlan can expect to sell ________units.
A. 724 B. 872 C. 600 D. 864 E. 342
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Which of the following is NOT a characteristic of firms in a monopolistically competitive market?
A) advertising B) differentiated products C) ease of entry and exit D) existence of significant economies of scale