Refer to above Table 2-2. What are the constant-dollar expenditures in years 1 and 2 at fixed year 2 prices?
A) $14.00, $14.60
B) $7.90, $13.50
C) $18.00, $18.60
D) $12.80, $19.80
C
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Every day, ________ changes to make the quantity of money demanded equal the quantity of money supplied
A) real GDP B) the money supply C) the inflation rate D) the nominal interest rate E) the price level
Refer to Figure 3-4. If the current market price is $25, the market will achieve equilibrium by
A) a price increase, increasing the quantity supplied and decreasing the quantity demanded. B) a price decrease, decreasing the supply and increasing the demand. C) a price increase, increasing the supply and decreasing the demand. D) a price decrease, decreasing the quantity supplied and increasing the quantity demanded.
Refer to Figure 11-1. The marginal product of the 7th worker is
A) 66. B) 9.43. C) 2. D) -2.
When an industry's raw material costs increase, other things remaining the same,
A) the supply curve shifts to the left. B) the supply curve shifts to the right. C) output increases regardless of the market price and the supply curve shifts upward. D) output decreases and the market price also decreases.