If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock.
B. long-run supply shock.
C. long-run demand shock.
D. short-run demand shock.
Answer: B
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Which of the following is not a store of value?
a. Dollar bills. b. Credit card. c. Coins. d. Gold.
Extractive industries such as farming, mining, or lumbering typically: a. are considered to be decreasing cost industries
b. are considered to be constant cost industries. c. use only small portions of the total supply of specialized resources. d. are considered to be increasing cost industries.
The problem for a central bank setting a zero inflation policy would be:
A. firms would have to cut the nominal wage to reduce the real wage. B. economic growth would also have to be zero. C. it is impossible to have zero inflation. D. the risk of high employment.
Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. Marginal revenue product of the ________ worker is $1,000.
A. second B. third C. fourth D. fifth