Refer to the information provided in Table 24.2 below to answer the question(s) that follow. Table 24.2
Refer to Table 24.2. At an output level of $2,500, the level for saving
A. is $300.
B. is $400.
C. is $500.
D. cannot be determined from this information.
Answer: B
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Suppose the Fed has a target inflation rate of 3%, the Fed always hits its target, and the inflation rate has been 3% for several years
Furthermore, assume Amazon sets the price of its Kindle Fire at $140 in 2012 and wants to keep the real price of the Kindle constant in order to maximize profits. Now suppose that the Fed announces on January 1, 2013 that it will decrease its target rate for inflation to 1%. If Amazon has adaptive expectations, it will set its price for the Kindle in 2013 at A) $137.20. B) $140.00. C) $141.40. D) $144.20.
In which of the following market structures do you find many sellers?
A. monopolistic competition B. perfect competition C. monopoly D. Both monopolistic competition and perfect competition are correct
Value maximization leads to predictable resource misallocation when the firm:
A. buys inputs from a monopsonist. B. has monopoly power in the market. C. sets price below long-run marginal cost. D. operates in a competitive market.