For a given aggregate supply curve, price level and output will both increase when aggregate demand decreases
a. True
b. False
Indicate whether the statement is true or false
False
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
A federal budget ________ occurs when the federal government spends more than it collects in taxes
A) ceiling B) deficit C) surplus D) equilibrium
Refer to Figure 2-14. If the two countries have the same amount of resources and the same technological knowledge, which country has an absolute advantage in the production of popsicles?
A) Greenland B) They have the same advantage. C) Iceland D) cannot be determined Table 2-20 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand.
Referring to Figure 34.4, the number of tickets that this promoter will choose to sell will 
Figure 34.4
A. sell out the facility and will be more than capacity. B. be more than capacity. C. be such that there are many empty seats. D. sell out the facility.