The proliferation of new products that we are used to today has been occurring since the advent of the Industrial Revolution.
Answer the following statement true (T) or false (F)
True
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Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Quick Buck cheats by reducing its price to $1 while Pushy Sales continues to comply with the collusive agreement, then Quick Buck's economic profit will be ________.
A. $2,000 B. $4,000 C. $6,000 D. $3,000
The Federal Reserve was created in
A) 1893. B) 1913. C) 1921. D) 1933.
Which of the following does Gordon believe people consider the single most important macroeconomic issue today?
A) inflation B) poverty C) unemployment D) low productivity
Between 1955 and 2006, the federal government purchases of goods and services as a percentage of GDP has:
a. generally trended downward b. Not changed. c. Grown by about 10%. d. Tripled.