Figure 20-4
In Figure 20-4, which panel shows the impact of union efforts to have goods produced in Asia excluded from the U.S. market?
A. 1
B. 2
C. 3
D. 4
Answer: D
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If you know that when a firm produces 8 units of output, average fixed cost is $12.50 and average variable cost is $81.25, then the average total cost associated with this output level is
A. $880.00. B. $97.78. C. $750.00. D. $93.75.
The Fed has decreased the money supply. The formula for calculating the resulting change in demand deposits is
a. (1/RRR) minus the change in reserves b. (1/RRR) multiplied by the change in reserves c. the change in reserves divided by [1 - (1/RRR)] d. RRR minus the change in reserves e. [1 - (1/RRR)] multiplied by the change in reserves
The inflationary premium is that portion of the interest rate that reflects
a. the real return derived by lenders. b. the rush to buy goods before prices rise. c. the expected annual rate of decline in the purchasing power of money while a loan is outstanding. d. the price that one must pay for earlier availability of goods and services during a period of price stability.
In the first few years of the Great Depression, unemployment rose to about
a. 10 percent, and prices rose about 14 percent. b. 15 percent, and prices rose about 22 percent. c. 20 percent, and prices fell about 14 percent. d. 25 percent, and prices fell about 22 percent.