Each of the following is a characteristic of socialism, except
A. prohibition of any private ownership of the means of production.
B. a substantial degree of government planning.
C. a large-scale redistribution of income.
D. government ownership of some of the means of production.
A. prohibition of any private ownership of the means of production.
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The growth rate of real GDP equals
A) [(real GDP in previous year - real GDP in current year) ÷ real GDP in previous year] × 100. B) [(real GDP in current year - real GDP in previous year) ÷ real GDP in previous year] × 100. C) [(employment in the current year - employment in previous year)/employment in previous year] × 100. D) (real GDP in current year - real GDP in previous year) × 100. E) [(real GDP in current year - real GDP in previous year) ÷ real GDP in current year] × 100.
The aggregate supply curve relating the price level to real GDP has three distinguishing segments. Which one of the following indicates the segments?
a. The horizontal segment reflects the increasing pressure on the price level as firms bid for resources. The upward-sloping segment reflects the availability of unused resources. The vertical segment reflects the full employment of all resources. b. The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects the full employment of all resources. The vertical segment reflects the increasing pressure on the price level as firms bid for resources. c. The horizontal segment reflects the full employment of all resources. The upward-sloping segment reflects the increasing pressure on the price level as firms bid for resources. The vertical segment reflects the availability of unused resources. d. The horizontal segment reflects the availability of unused resources. The downward-sloping segment reflects decreasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources. e. The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects increasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
This graph shows the cost and revenue curves faced by a monopoly. 
According to the graph, if the perfectly competitive outcome and monopoly outcome are compared, we can see that the:
A. monopoly creates deadweight loss. B. monopolist would charge P3 and the perfectly competitive firm would charge P1. C. perfectly competitive firm would lose money in this industry. D. perfectly competitive firm would produce Q1 units.
If the combination r = 5% and Y = $100 billion is on the Fed rule line, we know that the combination r = 7% and Y = $100 billion would represent
A. a movement up the Fed rule. B. the Fed rule shifting to the left. C. the Fed rule shifting to the right. D. a movement down the Fed rule.