Macroeconomics includes the study of:
A. individual choice.
B. firm pricing policies.
C. the relative prices of oil and coal.
D. inflation.
Answer: D
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A temporary negative supply shock ________ real interest rates and ________ output in the short run, thereby its effect on stock prices is ________
A) raises; lowers; negative B) raises; raises; ambiguous C) lowers; raises; negative D) lowers; raises; positive
Which of the following statements about the elasticity of demand for a monopolist is TRUE?
A) Since a monopolist produces a good with no close substitutes, the price elasticity of demand for the good is zero. B) A monopolist produces a good with demand that is perfectly inelastic because people can not do without the good. C) Since every good has some substitute, even if imperfect, the demand for a good produced by a monopolist will not have zero price elasticity. D) Since the demand curve of a monopolist is downward sloping, the demand for the good must be inelastic.
Public goods are unlikely to be provided by the private sector because
A) the production of the good creates negative externalities. B) no one can be excluded from the consumption of the good. C) the consumption of the good creates negative externalities. D) the exclusion principle does not apply to public goods.
Refer to the information provided in Figure 15.3 below to answer the question(s) that follow. 
Figure 15.3 Refer to Figure 15.3. In the short run, this company is ________, and in the long run, it should expect to ________.
A. suffering a loss; shut down B. breaking even; break even C. making a profit; break even D. suffering a loss; break even