Income on the horizontal axis at which the vertical distance to the 45-degree line is greater than the vertical distance to the Ep line gives rise to ________-than-equal planned expenditures, and so we must be ________ the equilibrium level of income
. A) less, below
B) less, above
C) greater, below
D) greater, above
B
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If Utopia has a closed economy, the number of cases of tile consumed each is ________ per year, and if it has an open economy the number of cases of tile consumed is ________ per year. 
A. 300; 200 B. 300; 450 C. 450; 200 D. 200; 450
Compared to a firm in perfect competition, the monopolistically competitive firm tends to
a. produce less and charge a higher price b. produce less and charge a lower price c. produce more and charge a lower price d. produce more and charge a higher price e. produce the same quantity
Other things equal, monetary policy to offset a contractionary gap will tend to
a. Increase the money supply and lower interest rates b. Increase the money supply and increase interest rates c. Decrease the money supply and lower interest rates d. Decrease the money supply and increase interest rates
If two economists disagree about the magnitude of employment effects of a proposed change in government policy, the difference in opinion
a. must be positive in nature b. must be normative in nature c. is more likely to be normative than positive d. is more likely to be positive than normative e. would be neither positive nor normative in nature