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.

A rise in incomes increases or decreases the demand for inferior goods such as cabbage, turnips, and inexpensive wine?

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.

Select the factors below that shift supply.

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

Which of the following is NOT an assumption under which the production possibilities curve is drawn?

In comparison to a competitive industry how is a monopoly different?