The decline in output at the onset of the Great Depression was caused primarily by
a. a positive demand shock
b. a negative demand shock
c. a positive supply shock
d. a negative supply shock
e. simultaneous shocks to supply and demand
B
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If expected future prices rise, this causes the nation's current:
a. Aggregate demand to fall, the average price level to fall, and real GDP to rise. b. Aggregate supply to rise, the average price level to rise, and real GDP to rise. c. Aggregate demand to rise, the average price level to rise, and real GDP to rise. d. Aggregate supply to fall, the average price level to rise, and real GDP to fall. e. Aggregate demand to fall, the average price level to fall, and real GDP to fall.
Total cost schedule for a competitive firm: 
If market price is $60, what is the maximum profit the firm can earn?
A. $75 B. -$10 C. Zero profit, the firm shuts down D. $85 E. $80
MPC is equal to
a) delta C / delta S b) delta S / delta C c) delta C / delta YD d) delta S / delta YD
Whenever a society forgoes current consumption to invest in capital goods
A. it will have less to consume next year. B. it will be easier for that society to consume less in the future because people will become accustomed to less. C. it will be forced to produce fewer capital goods in the future. D. that society can consume more in the future.