Refer to Figure 3.4. The odds of Serena and Austin meeting randomly to view the sunset are
A) 0%.
B) 25%.
C) 50%.
D) 100%.
C
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If Y = income, G = government spending, T = autonomous taxes, and t = income tax rate, then the government budget deficit can be expressed as
A) G - T/Y(t). B) G - T. C) Y + G - T - ty. D) G - T - ty.
Long-term chronic unemployment that results even when the economy is producing at a normal rate is called ________ unemployment.
A. global B. cyclical C. structural D. frictional
According to the endowment effect, people are unwilling to sell a good they already own in which of the following situations?
a. if they are offered a price greater than the price they would pay if they did not already own the good b. if they are offered a price lower than the price they would have to pay to replace the good c. if they can't replace the good d. if the good was a gift that had great sentimental value
Refer to the figure below where the nominal interest rate equals 6% and the money supply equals 600. If the Federal Reserve wants to set the nominal interest rate at 10%, it must conduct open market ________ to set the money supply at ________. 
A. sales; 200 B. sales; 800 C. purchases; 800 D. purchases; 200