Figure 11-7
The firm in Figure 11-7 is an unregulated monopolist; it will produce which of the following?
a.
175 units at a price of 7
b.
100 units at a price of 6
c.
100 units at a price of 9
d.
150 units at a price of about 7.5
c
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In the long run, if government increases spending ________
A) interest rates decrease B) it crowds out private investment C) saving increases D) all of the above E) none of the above
Iceland can produce 32 units of food per person per year or 8 units of clothing per person per year, but Lavaland can produce 16 units of food per year or 8 units of clothing. Which of the following is true? a. Iceland has both a comparative and absolute advantage in producing food
b. Iceland has a comparative advantage, but not an absolute advantage in producing food. c. Lavaland has both a comparative and absolute advantage in producing clothing. d. Lavaland has both a comparative and absolute advantage in producing food.
Which of the following industrial countries experienced a relatively slower growth of real GDP in the latter half of the 1990s?
a. Canada b. United States c. Italy d. France e. Japan
After identifying one combination of interest rates and GDP for which the demand for money is equal to the supply of money (equilibrium), to maintain the equilibrium if GDP rises:
A) this would not affect interest rates. B) interest rates would have to fall. C) interest rates would have to rise. D) interest rates would not be in parity with foreign rates of interest.