Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C
B. Falling; A; C
C. Falling; A; B
D. Rising; A; C
Answer: D
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Supply-side economics stress that: a. aggregate demand is the major determinant of real output and aggregate employment
b. tax rates are not a major determinant of real output and aggregate employment. c. an increase in government expenditures financed by higher tax rates will cause RGDP to rise. d. marginal tax rate changes can exert a significant impact on RGDP, even in the long run.
Why do economists abstract, and is it appropriate?
How many prices would a trader of a particular good need to know in a barter economy with 5 goods?
A. 20 B. 10 C. 5 D. 50
Using Figure 1.6, we know the production of 90 units of soda and 1 unit of pizza is 
A. impossible because we have the resources but do not have the technology. B. possible, but there would be unemployed resources. C. possible, but only if all resources were fully employed. D. impossible because we have the technology but do not have the resources.