Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. The vertical distance AB represents
A. average total costs.
B. marginal costs.
C. average fixed costs.
D. total fixed costs.
Answer: D
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A person who is out of work, available for work, but not seeking work is
a. counted as unemployed. b. part of the labor force. c. a discouraged worker. d. a fictionally unemployed person.
In the self-correcting AD-AS model, a point where the economy's long-run AS curve, short-run AS curve, and AD curve all intersect at a single point represents a point where: a. real GDP is equal to its full-employment level
b. the conditions of short-run equilibrium are fulfilled. c. the conditions of long-run equilibrium are fulfilled. d. all of the above. e. a and c, but not b.
When the government lowers income taxes, consumption is ______________, causing a __________ the AD curve
A) stimulated; rightward shift of B) stimulated; movement down along C) reduced; leftward shift of D) reduced; movement up along
One consequence of imperfect information in the health insurance market is that:
A. less healthy individuals are more likely to buy insurance, driving up the cost of insurance for everyone. B. the most healthy individuals are more likely to buy insurance, leaving the least healthy without access to health care. C. health insurance increases the demand for health care and so increases the price of health care. D. unhealthy individuals are denied health insurance.