9. The formula Y / provides a calculation of(A) x-efficiency.(B) dynamic efficiency.(C)economywide m
10. The Phillips curve is a negative empirical relationship between(A) bond prices and interest rate
11. The real exchange rate is(A) the price of one currency in terms of another.(B) the price of dome
13. Adverse selection can occur when(A) all persons involved in a transaction have full information.
14. If you sell your DVD player on eBay, you will be better informed about thequality of the product
15. If a production process creates pollution, a competitive market producesexcessive pollution beca
17. In a perfectly competitive resource market, the labor supply curve facing the(A) vertical.(B) ho
18. If the labor market is competitive, a monopoly output market will result in(A) a lower wage than
19. Monopolistic competition and monopoly have all of the following in commonEXCEPT(A) P > MC.(B) Fi
20. The organization of petroleum exporting countries (OPEC)is an example ofa(n)(A) oil monopoly.(B)
21. The Stackelberg model is more appropriate than the Cournot model insituations where(A) there are
22. Why do firms engage in price discrimination?(A) to decrease cost(B) to increase profits(C)to inc
23. A horizontal demand curve for a firm implies that(A) the firm is a monopoly.(B) the market the f
24. What is the unemployment rate if there are 150 million people employed, 25million people unemplo
28. If the nominal exchange rate rises 5%, domestic inflation is 2%, and foreigninflation is 3%, wha
29. Suppose the total cost of producing T-shirts can be represented as TC = 50 +2q. The average cost
30. When a firm produces 1000 widgets with total cost of $2000 and fixed cost ofS1000, what is the a