The statement that "IBM's stock closed at $85" is
a. a normative statement
b. a positive statement
c. a macroeconomic observation
d. financial manipulation
e. a sign that the market may be undervalued
B
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
If it is not possible to prevent others from sharing in the benefits of a good's consumption, we say that the good
a. is an economic bad b. is nonrival in consumption c. has the characteristic of non excludability d. is a private good
If the required reserve ratio is one-third, currency in circulation is $300 billion, checkable deposits are $900 billion, and there is no excess reserve, then the M1 money multiplier is
A) 2.5. B) 2.8. C) 2.0. D) 0.67.
An important factor that contributes to labor productivity growth is:
A) growth in the capital stock. B) technological change. C) the standard of living. D) A and B only E) A, B, and C are correct.