Major macroeconomic questions include all of the following EXCEPT:
A. What causes slowdowns in productivity growth?
B. Are free trade agreements beneficial?
C. Can inflation be reduced without generating additional unemployment?
D. How do monopoly firms set prices and determine quantities to produce?
Answer: D
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Use the following graph to answer the next question. 
If the industry were served by a pure monopoly, the profit-maximizing price and quantity of output would be ________.
A. P1, Q1 B. P1, Q3 C. P3, Q1 D. P2, Q2
Which of the following is a normative statement?
a. The U.S. rate of unemployment was lower in 2004 than it was in 1994. b. Savings accounts earn interest, whereas checking accounts do not. c. Congress must recognize that the growing national debt is the most serious problem that the country faces. d. The unemployment rate increases when the percentage of the labor force without jobs increases. e. The unemployment rate among teenagers is higher than the rate among adults.
When a country allows trade and becomes an exporter of a good,
a. the gains of the domestic producers of the good exceed the losses of the domestic consumers of the good. b. the gains of the domestic consumers of the good exceed the losses of the domestic producers of the good. c. the losses of the domestic producers of the good exceed the gains of the domestic consumers of the good. d. the losses of the domestic consumers of the good exceed the gains of the domestic producers of the good.
The fast food industry can be modeled best using the model of
A. perfect competition. B. oligopoly. C. monopolistic competition. D. monopoly.