Category: Uncategorized

Indicate whether each of the following statements applies to microeconomics or macroeconomics: U.S. output, adjusted for inflation, decreased by 2.4 percent in 2009:

True or False.  The government plays a role in assuring that everyone will make a contribution to public goods and to prevent free riders.

Select the factors below that shift supply.

Mark all that apply.  Expansionary fiscal policy involves:

True or False.  The government plays a role in assuring that everyone will make a contribution to public goods and to prevent free riders.

Select all that apply. In terms of pricing, which of the following is not true for a monopolist?

The short-run supply curve for a perfectly competitive firm is:

True or False. Monetary policy is inevitably imprecise because of the discovery that a combination of constant growth in the money supply & fluctuating velocity cause nominal GDP to rise and fall in unpredictable ways.

Refer to the graph below.  What rate of output maximizes total profit? (Enter your answer as a numeric value).

Below is an Production Possibilities Frontier for producing shoes or hats.  Match points X, Y, Z to the correct description.