In Figure 1.2, which labeled points are attainable? 
A. only A
B. only B and C
C. only D
D. A, B, and C
Answer: D
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________ will lead to a decrease in the gross domestic product of a country, all other variables remaining unchanged
A) An increase in the expenditure on investment B) A decrease in the expenditure on investment C) An increase in exports D) A decrease in imports
When the price of holiday lights increases 4 percent, the quantity supplied increases 3 percent. This example would have a(n) ______ supply curve.
a. equilibrium b. unit c. elastic d. inelastic
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 downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Which statement about the effects of patents is TRUE?
A. Patents reduce the incentive to research and develop new products but also reduce competition in the market. B. Patents increase the incentive to research and develop new products but also increase monopoly power once the products are created. C. Patents increase the incentive to research and develop new products and also increase competition on the market. D. Patents reduce the incentive to research and develop new products but increase monopoly power once the products are created.