In a country, the adult population equals 100,000. There are 50,000 people unemployed and 40,000 people are employed. The labor force participation rate equals
A. 90 percent.
B. 50 percent.
C. 40 percent.
D. an undetermined amount given the lack of information.
Answer: A
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
The additional cost a firm will incur by producing one additional unit of output is the:
A. variable cost. B. marginal cost. C. fixed cost. D. total cost.
Refer to the following graph.
The maximum amount of good A can be consumed in this economy without trade is
A. Q units. B. F units. C. P units. D. G units.
Refer to the Laffer Curve above. An increase in the tax rate from T3 to T4 would:
A. Decrease tax revenues and support the views of supply-side economists
B. Increase tax revenues and support the views of supply-side economists
C. Increase tax revenues and support the views of mainstream economists
D. Decrease tax revenues and support the views of mainstream economists