Nominal GDP measures the ________ of production.
A. current dollar value
B. base year value
C. change in the volume
D. physical volume
Answer: A
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The most common form of business organization in the United States is the
A) proprietorship. B) partnership. C) corporation. D) cooperative.
An arbitrageur is someone who:
A. simultaneously buys and sells financial instruments to benefit from temporary price differences. B. seeks the high returns that come from the high risk inherent in futures markets. C. always takes the short position in a futures contract. D. always takes the long position in a futures contract.
Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 
Figure 7.11
Refer to Figure 7.11. At Point C, the slope of isoquant q2 = 200 is
A. -2. B. -1/2. C. -1. D. indeterminate from this information.
On the graph above, consider a point A on the aggregate supply curve and above the aggregate demand curve. At this point, ________
A) quantity demanded equals output, but the inflation rate will fall, so output will rise B) quantity demanded is greater than quantity supplied, so the inflation rate will rise C) output is greater than the quantity demanded, so output will fall D) the aggregate demand curve will shift to the right until quantity demanded is equal to quantity supplied E) none of the above