Between 1870 and 2010, among the United States, Germany, Japan, and Australia, ________ grew at the fastest rate and ________ grew at the slowest rate.
A. Japan; Australia
B. Germany; United States
C. Australia; Japan
D. United States; Germany
Answer: A
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Which of the following examples would best stop a recession?
a. in the long run, a well-designed monetary policy that decreases the money supply b. in the short run, a well-designed monetary policy that decreases the money supply c. in the long run, a well-designed monetary policy that increases the money supply d. in the short run, a well-designed monetary policy that increases the money supply
Which of the following is the best example of a microeconomic topic?
A. The impact that the money supply has on inflation. B. The reasons for increases in the price of soft drinks. C. The effect that federal budget deficits have on the interest rate. D. The tradeoff between inflation and unemployment.
If the equilibrium price of corn is $3 a bushel and the government imposes a floor of $4 a bushel, the price of corn will _______________________.
A. Increase to $4 B. Remain at $3 C. Rise to about $3.50 D. Be impossible to determine
If Angelo's Pizza Restaurant has a constant marginal cost of $75 for each additional table in the restaurant and a constant marginal cost of $5 for operating each additional table, what is Angelo's long-run marginal cost per table?
A) $70 B) $5 C) $80 D) $75