A reason that the inflation rate did not increase substantially following the recession of 2007-2009 is that
A) the increase in the monetary base was accompanied by larger-than expected increases in the money supply.
B) even though the recovery was slow, the U.S. economy benefitted from a small output gap.
C) the recovery was slow and the unemployment rate remained high through 2012.
D) the Federal Reserve quickly implemented contractionary policy to prevent an increase in the inflation rate.
C
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Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. If this farmer is maximizing his profits, his TVC is
A. $24. B. $42. C. $108. D. $255.
In the long run, if the Fed decreases the rate at which it increases the money supply,
a. inflation and unemployment will be higher. b. inflation will be higher and unemployment will be lower. c. inflation will be lower and unemployment will be higher. d. None of the above is correct.
The following is a correct order in a business cycle: trough, recession, peak, expansion.
Answer the following statement true (T) or false (F)
Refer to the given figure and assumptions. Assume initially that government does not effectively block illegal immigration. If the government then finds a way to prevent all illegal immigrants from working in this labor market:
Assumptions: (1) Employers in this market are willing and able to ignore minimum wage laws;
(2) S d represents the supply of domestic-born (and legal immigrant) workers; (3) S t represents
the total supply of workers in this labor market (S d plus illegal immigrants); and (4) unless
otherwise stated, illegal immigration is not effectively blocked by the government.
A. 10,000 domestic-born workers will gain employment at the expense of 20,000 illegal
immigrants.
B. 20,000 domestic-born workers will gain employment at the expense of 20,000 illegal
immigrants.
C. 10,000 domestic-born workers will gain employment at the expense of 70,000 illegal
immigrants.
D. 10,000 domestic-born workers will gain employment at the expense of 50,000 illegal
immigrants.