A cooperative, or "co-op" for short, is a single-owner firm
a. True
b. False
B
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Last year's price level was 120 and since then there has been a 5 percent inflation. This year's price level is
A) 125. B) 126. C) 130. D) none of the above.
Which of the following statements about interest rate determination is most accurate?
a. In both the long run and the short run, the interest rate is determined in the market for loanable funds. b. In both the long run and the short run, the interest rate is determined in the money market. c. In the short run the interest rate is determined in the market for loanable funds, and in the long run it is are determined in the money market. d. In the short run the interest rate is determined in the money market, and in the long run it is determined in the market for loanable funds. e. The interest rate is determined through an interaction between the money market and the loanable funds market.
Figure 20-1
Which of the diagrams in Figure 20-1 shows the situation of an individual firm that hires labor in a perfectly competitive market?
A. A B. B C. C D. D
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C