Refer to the following table: 
What is the net benefit of the 5th unit of the activity?
A. 70
B. 50
C. 60
D. 80
E. none of the above
Answer: A
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In the short run, how does the Fed change the nominal interest rate?
What will be an ideal response?
Related to the Economics in Practice on p. 36: In all societies, resources are limited relative to people's demands, and there are ________ trade-offs individuals face in rich countries versus poor countries.
A. more important B. large differences in the kinds of C. fewer D. virtually no differences in the types of
Answer the following questions true (T) or false (F)
1. In a market with positive externalities, the market equilibrium price will be less than the efficient equilibrium price. 2. Health insurance companies impose deductibles on policies and co-payments on claims to reduce the problem of adverse selection. 3. Adverse selection is a situation in which one party to an economic transaction has less information than the other party.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward