The standard view in economics is that tax cuts without ________ will ________ the budget deficit resulting in ________
A) increasing spending; decrease; unemployment
B) spending cuts; decrease; unemployment
C) increasing spending; increase; crowding out investment
D) spending cuts; decrease; crowding out investment
E) spending cuts; increase; crowding out investment
E
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
The income effect means that at a high enough wage rate labor supply curve has a
A) positive slope because an increase in the wage rate increases income. B) positive slope because an increase in income increases the demand for leisure. C) negative slope because an increase in income increases the demand for leisure. D) negative slope because an increase in the wage rate increases hours worked to earn more income.
Which of the following workers would be most likely to work fewer hours as a result of a wage increase?
A. Farm worker B. Surgeon C. Lifeguard D. Bartender
Which of the following is the best example of the concept of "substitute"?
A. Coke and Pepsi B. Hot dogs and hot dog buns C. SUVs D. Ramen noodles