The slope of line (2) on the graph below is:
A. 0
B. 12
C. 18
D. Infinite
Answer: A
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The production function 
can have increasing returns to scale or decreasing returns to scale -- but it cannot have initially increasing and eventually decreasing returns to scale.
Answer the following statement true (T) or false (F)
Required reserves for a commercial bank
A) are the minimum reserves that a bank must hold to back its deposits. B) are the reserves that a bank plans to hold in the bank's vault. C) are only the money used by the bank tellers. D) consist only of the bank's deposits at the Fed.
the ratio of change in consumption to a change in the income that caused the consumption change
What will be an ideal response?
Figure 18-2
Figure 18-2 shows the widget market before and after an excise tax is imposed. What percentage of the tax per widget is borne by consumers, considering the true economic incidence of the tax?
A. 0 percent B. 20 percent C. 50 percent D. 80 percent