(05.06 MC) Assume real GDP equals $30,000; the population is 20 and there are 15 labor employed. What is the value of GDP per capita and average labor productivity?

(02.04 HC) Use the table to answer the question that follows. Year Price of Good A Quantity of Good A Price of Good B Quantity of Good B 1 $10 5 $12 6 2 $15 5 $12 7 The economy produced only two goods with the prices and quantities of each good for year 1 and year 2 shown above. Which of the following is true?

(04.05 MC) Which of the following is true about the money supply curve in an economy?

(05.01 LC) Long-run self-correction of the economy generally shifts ________ , while fiscal and monetary policy solutions focus on shifting ________.

(04.07 MC) Use the graph to answer the question that follows.Assume that the loanable funds market is in equilibrium, as shown in the graph. If households become concerned about retirement income and spend less, what will happen in this market for loanable funds?

(05.02 MC) The graph below shows a shift in the LRPC in an economy due to increased automation.What are the economy’s new equilibrium inflation rate and unemployment rate?

(05.02 MC) An increase in aggregate demand, for a given short-run aggregate supply curve, should lead to which of the following results relating to the Phillips curve?

(02.09 MC)Your community faces a challenging issue. You will serve on a volunteer committee to evaluate and make a recommendation to the city council. Which economic process will help your committee identify all potential solutions to the issue?

(06.03 MC) Assume a competitive foreign exchange market between the Japanese yen and the U.S. dollar. Which of the following best explains the supply of yen in the market for yen?

(01.06 MC)A country’s currency is backed by a gold standard. However, gold production has declined and will not recover. Which action would protect the value of the country’s currency in the long run?