As a result of recent empirical research, there has been a convergence of Keynesian and monetarist opinion to the view that
A) money is all that matters.
B) money does matter.
C) money does not matter.
D) fiscal policy is all that matters.
B
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
If a machine cost $50,000 initially and is expected to last for 20 years but is worth $60,000 after one year because it is in short supply, an accountant most likely would say that:
A. during the first year the machine had no cost; it provided a revenue to the firm. B. the value of the machine will continue to increase 20 percent per year for the next 20 years. C. the machine's cost for each of its 20 years of existence is $3,000. D. the machine's cost for each of its 20 years of existence is $2,500.
The economy of Alpha operates according to Okun's law. In Alpha, potential GDP equals $500 billion, actual GDP equals $520 billion, and the natural rate of unemployment is 5 percent. What is the actual rate of unemployment in Alpha?
A. 4 percent B. 7 percent C. 1 percent D. 3 percent
For a cost function C = 100 + 10Q + Q2, the average variable cost of producing 20 units of output is:
A. 20. B. 10. C. 30. D. None of the answers are correct.