Of the following, what muscle would do the most work if you ran five miles?
A. Biceps
B. Pectoralis major
C. Quadriceps femoris
D. Sternocleidomastoid
Answer: C. Quadriceps femoris
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Relative to fiscal policy, monetary policy
a. has fewer harmful side effects. b. requires much more time to implement. c. is more closely controlled by Congress. d. is much more independent of the political process.
The economizing problem is essentially one of deciding how to make the best use of
A) unlimited resources to satisfy limited wants. B) unlimited resources to satisfy unlimited wants. C) limited resources to satisfy limited wants. D) limited resources to satisfy virtually unlimited wants.
Suppose that ABC Beer Brewer faces a linear demand curve and that the current price for its beer is set at a point where the price elasticity is 0.6. If ABC Beer Brewer increases the product price, then the total revenue will:
A. increase if at the new price, the elasticity is still lower than 1. B. increase regardless of the size of the price increase. C. decrease regardless of the size of the price increase. D. increase if at the new price, the elasticity is greater than 1.
The seasonally adjusted unemployment rate
A. reports only seasonal unemployment. B. is impossible to compute since no one knows what the seasonal component equals. C. is another name for structural unemployment. D. removes the seasonal variation from the unemployment rate.