The classicals, applying Say's law, believed that all our income would be _______, all our production would be _______ and all our savings would be ________.
Fill in the blank(s) with the appropriate word(s).
spent; purchased; invested
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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
A firm that exits its market has to pay
a. its variable costs but not its fixed costs. b. its fixed costs but not its variable costs. c. both its variable costs and its fixed costs. d. neither its variable costs nor its fixed costs.
Which of the following is not a direct determinant of net export spending?
A. Domestic income. B. Interest rates. C. Exchange rates. D. Foreign income.
Why are diamonds more expensive than water?
A. because the last diamond has higher marginal utility than the last glass of water B. because the last glass of water has higher marginal utility than the last diamond C. because water is a necessity D. because you get more total utility from diamonds