Answer the following statement(s) true (T) or false (F)
1. For the first time in U.S. history, the EPA has set GHG emissions standards for passenger cars and light-duty trucks for model years 2012 through 2016 and for medium- and heavy-duty vehicles for model years 2014 through 2018.
2. Under the new GHG emissions standards for mobile sources, light-duty vehicles will have to achieve an average emissions level of 250 grams of carbon dioxide (CO2) for model year 2016.
3. The two new national programs aimed at improving fuel efficiency and reducing GHG emissions are strictly command-and-control with no market-based initiatives.
4. Under the Clean Air Act, the emissions controls on mobile sources were set using benefit-cost analysis.
1. True
2. True
3. False
4. False
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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 upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Explain what a macroeconomic shock is, and give three examples of macroeconomic shocks to the U.S. economy in the past 10 years
What will be an ideal response?
For a monopolistically competitive firm
A) price equals marginal revenue at all levels of output. B) price is less than marginal revenue at all levels of output. C) price is greater than marginal revenue at all levels of output except for the first unit. D) the demand curve is perfectly inelastic and marginal revenue is zero.
If a person saves $1,000 . how much will she have at the end of three years if the market interest rate is 6 percent?
a. $1,060 b. $1,135 c. $1,156 d. $1,191 e. $1,600