An increase in the quantity demanded of a good is most often due to:
A. an increase in wages paid to workers.
B. higher prices.
C. a decrease in the price of a substitute good.
D. lower prices.
Answer: D
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Based on the figure below. An economy in short-run equilibrium at point A has a(n) ________ gap. The gap could be eliminated by the self-correcting mechanism of the economy and eventually achieve long-run equilibrium at point ________ or the central bank could intervene with monetary easing establishing the long-run equilibrium at point ________. 
A. recessionary; B; C B. expansionary; B; C C. expansionary; C; B D. recessionary; C; B
A ________ tax system is one in which tax rates increase with taxable base incomes
A) regressive B) progressive C) proportional D) supplementary
In the above figure, the economy is initially at point B. Then the price level falls by 10. The wealth effect will help
A) move the economy to point A. B) move the economy to point C. C) move the economy to point D. D) keep the economy to point B.
Which of the following would lead to a rightward shift in the demand curve for golf balls?
a. An increase in the price of golf clubs b. A decrease in the popularity of golf c. An increase in the number of golfers d. A decrease in the price of golf balls e. An increase in the golf club membership fee