Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. If workers are paid $600 per day, then the firm is profit maximizing when it hires ________ workers.
A. two
B. three
C. four
D. five
Answer: C
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If the variable on the vertical axis increases by 20 and the variable on the horizontal axis increases by 5, the slope of the line is
A) 0.25. B) 4. C) 15. D) 100.
Assume that the Fed knows a demand shock has occurred in the economy. It takes the Fed 2 months to adjust policy to the shock, and it takes the economy 14 months for the policy change to affect the economy
The 2 month time period refers to the ________, and the following 14 month time period refers to the ________. A) policy lag; implementation lag B) recognition lag; implementation lag C) implementation lag; impact lag D) policy lag; recognition lag
In nations where the supply of real loanable funds is inelastic, the real risk-free interest rate is likely to:
a. To fluctuate more than the equilibrium quantity of loanable funds per period. b. Be very stable over time and not to react strongly on changes in demand. c. Be high compared to countries where the supply of real loanable funds is elastic. d. None of the above.
Which of the following is true about how the "invisible hand" influences economic activity through prices when a product has lower demand than supply?
a. The price must decrease, causing more buyers to buy and less sellers to sell. b. The price must decrease, causing more buyers to buy and more sellers to sell. c. The price must increase, causing less buyers to buy and more sellers to sell. d. The price must increase, causing less buyers to buy and less sellers to sell.