Which of the following activities are production?
A. moving crude oil from one part of Texas to an oil refinery near the Texas coast
B. combining flour, milk, and eggs to make cookies
C. taking ice cubes from a tray to put in a drink
D. All of these are production.
Answer: D
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The amount of revenue the government collects after imposing the tariff is ________. 
A. $40,000 B. $4,000 C. $1,000 D. $10,000
In the short-run
A) the aggregate supply curve is upward sloping. B) real GDP is always equal to potential GDP. C) the money wage rate can change. D) the price level does not change.
A consol paying $20 annually when the interest rate is 5 percent has a price of
A) $100. B) $200. C) $400. D) $800.
If a customer values good A at $15, and it costs the firm $10 to produce, current profit per unit is
a. $10 b. $8 c. $5 d. $1