Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow. 
Figure 8.5 Refer to Figure 8.5. If seven drones are produced, average variable costs are
A. $2.86.
B. $14.29.
C. $20.
D. $21.43.
Answer: B
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The short run:
A. means the firm cannot increase or decrease at least one of its inputs. B. means that output cannot be changed. C. means the price of output is fixed. D. All of these are true.
The rule of rational choice holds that people will alter their behavior if ______.
a. expected marginal benefits outweigh expected marginal costs b. they can afford both the money costs and the non-money costs c. comparative advantages are greater than absolute advantages d. changes to their course of action are slow and incremental
An increase in the federal funds rate is a signal that the Fed wants a tighter monetary policy.
Answer the following statement true (T) or false (F)
Most decisions about implementing monetary policy are made by the:
A. president and Congress. B. chairman of the Fed only. C. president. D. Federal Open Market Committee.