True or False.  An international comparison of unemployment rates across countries can be easily accomplished.

The following table shows some costs and prices faced by an airplane manufacturer.  profit maximization is achieved at a production rate of ____ planes per month  (Enter your answer as a numeric value). Output (planes per month) 0 1 2 3 4 Price (millions per plane) — $9 $8 $7 $6 Total cost (millions per month) $1 $2 $6 $10 $20 Total revenue (millions per month) Total Profit (millions per month)  

Catfish Farmers Feel Forced Out of Business Also feeling the pinch from foreign imports and rising grain costs, Jerry Seamans is cutting back his 1,200 acres of catfish ponds by 20 percent and returning the acreage to soybeans and rice… “I really don’t know of a fish operation that’s not changing,” said Seamans, whose farm is just outside of Lake Village. “Some people are going out of business, several people are doing the same thing I’m doing. Most everybody in the business is trying to make major adjustments.” At its peak in 2002, Arkansas’ catfish industry numbered 195 operations covering 38,000 acres of ponds. The latest numbers from the U.S. Department of Agriculture show 128 catfish farms with 29,900 acres of ponds. Production has dropped from 106,821 pounds two years ago to the current 90,400 pounds. Source: TheFishSite.com, May 26, 2008. Used with permission of SM Publishing. Under perfectly competitive scenarios firms exit the business when economic losses are incurred.  According to the News Wire above, how many Arkansas catfish farms quit the business due to economic losses?  Enter a numeric value as your answer.

Suppose Bank of America has checkable deposits of $5,000,000 and a reserve requirement of 10%.  What is the money multiplier?

True or False the Law of diminishing returns states as additional increments of resources are added to a certain purpose, the marginal benefit from those additional increments will decline.

If the on-campus demand for soda is as follows: Price (per can) $0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 Quantity demanded (per day) 100 90 80 70 60 50 40 30 and marginal cost of supplying soda is 50 cents, what price will students end up paying in: A monopolized market? (Enter your answer as a numeric value).  HINT: you will need to find TR and MR for each quantity.  

Indicate whether each of the following statements applies to microeconomics or macroeconomics: The consumer price index rose by 3.8 percent from August 2011 to August 2012:

True or False.  The government can encourage innovation by providing assistance to firms with the costs of research and development.

Which of the following does not characterize a perfectly competitive market?

The chairman of the Federal Reserve Board of Governors can be reappointed for more than one term.