Anil buys a bond in the amount of $2,000 with a promised interest rate of 17 percent. If the market interest rate increases to 27 percent, Anil can sell his bond for up to
A. $540.00.
B. $11,764.71.
C. $1,259.26.
D. $7,407.00.
Answer: C
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High sunk costs in the jet aircraft market has assured Boeing of a monopoly in the production of jets for the air travel market.
Answer the following statement true (T) or false (F)
The misery index diminished during the first Reagan administration, which means that the Phillips curve
A. Shifted to the right, thereby implying that stagflation had become a more acute problem than before. B. Shifted to the left, thereby implying an easing of the trade-off between inflation and unemployment. C. Maintained its position despite important changes in the composition of the labor force. D. Flattened out, thereby implying that some amount of inflation is consistent with any rate of unemployment.
Refer to the diagram. If labor is the only variable input, the average product of labor is at a:
A. minimum at point b.
B. maximum at point b.
C. maximum at point a.
D. maximum at point c.
In Figure 22.2, which area represents producer surplus to the tobacco company? 
A. AP*C B. 0BCQ* C. 0P*CQ* D. BP*C