Refer to the data provided in Table 11.2 below to answer the following question(s). Table 11.2 
Refer to Table 11.2. When the interest rate ________, the farmer will engage in no investment.
A. is less than 15%
B. is greater than 5%
C. is less than 5%
D. is greater than 15%
Answer: D
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Suppose we examine how the consumer's optimum changes when the price of good X changes, while the consumer's tastes, income, and the price of all other goods are held constant. This procedure is used to derive
a. the Engel curve for good X. b. the (ordinary) demand curve for good X. c. the compensated demand curve for good X. d. the substitution and income effects for good X.
One of the reasons why the Phillips curve is no longer viewed as a "menu" of possible choices available to policy makers is that
a. in the 1970s and 1980s there was no inflation at all. b. analysis indicates there was no such "menu" in the 1960s. c. in the 1970s and 1980s much inflation came from the supply side. d. economic theory is unable to explain the curve and, therefore, it has been rejected.
About one out of every _______ whites is poor.
Fill in the blank(s) with the appropriate word(s).
In the short run, which of the following is not correct?
a. Increasing the money supply increases the demand for goods and services. b. Increasing the money supply encourages firms to hire more workers. c. Lowering the money supply leads to a higher level of unemployment. d. Policies that encourage higher employment will also induce a lower rate of inflation.