(01.01 MC)Read the excerpt to answer the question below.”They neither care nor know anything of arms, for I showed them swords, and they took them by the blade and cut themselves through ignorance. They have no iron, their darts being wands without iron, some of them having a fish’s tooth at the end, and others being pointed in various ways…I was attentive, and took trouble to ascertain if there was gold. I saw that some of them had a small piece fastened in a hole they have in the nose, and by signs I was able to make out that to the south, or going from the island to the south, there was a king who had great cups full, and who possessed a great quantity.”Source: Christopher Columbus, from his journal entries dated 12–14 October, 1492Reports such as Columbus’s encouraged the European powers to

(03.06 MC) What happens when a country experiences a positive supply shock in the short run?

(03.04 MC) Which statement explains the shape of the long-run aggregate supply curve (LRAS)?

(02.04 MC) Which of the following is true about the consumer price index (CPI) as an economic indicator?

(06.03 MC) The United States and the countries of Europe are trading partners. If the average income of dollar holders increases, what should be the result in the market for the euro, the currency of many European countries?

(02.05 MC) If a bank offers a home loan with a fixed interest rate of 8 percent with an expected inflation rate of 4 percent. If the inflation rate ends up being 5 percent, which accurately describes the impact on the bank?

(01.03 MC)Read the excerpt to answer the question below.”It was upon these gentle lambs, imbued by the Creator with all the qualities we have mentioned, that from the very first day they clapped eyes on them the Spanish fell like ravening wolves upon the fold, or like tigers and savage lions who have not eaten meat for days. The pattern established at the outset has remained unchanged to this day, and the Spaniards still do nothing save tear the natives to shreds, murder them and inflict upon them untold misery, suffering and distress, tormenting, harrying and persecuting them mercilessly.”Source: Bartolomé de Las Casas, Priest, A Short Account of the Destruction of the Indies, 1542Which of the following statements supports Bartolomé de Las Casas’ point of view?

(04.05 MC) Use the graph to answer the question that follows.In this graph, the demand for money shifted from MD to MD′. Which of the following could have caused this shift?

(02.04 HC) Assume that only two goods are produced in an economy, A and B. In the base year, 6 units of A are produced at a price of $3 and 5 units of B are produced at a price of $2. And in the given year, 6 units of A are produced at a price of $2 and 5 units of B are produced at a price of $6. What is the CPI for the given year?

(03.08 MC) Which is the most expansionary combination of fiscal policies?