The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B
B. recessionary; C
C. recessionary; A
D. expansionary; A
Answer: C
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A bond with a high yield
a. gives investors a high return on their investments. b. gives investors a low return on their investments. c. sells for a high price. d. sells for a low price.
If we are going to get the most value from our resources, entrepreneurs should choose the investment alternatives that
What will be an ideal response?
In order for a barter transaction to be successful, there must be a:
A. market for the goods. B. high demand for a certain item. C. double coincidence of wants. D. federal tax law in effect.
A firm holds excess labor if it can reduce the amount of labor it employs and still produce the same amount of output.
Answer the following statement true (T) or false (F)