When is it not necessary to build a new market supply schedule?
(A) When new technology is used to produce a good.
(B) When there is a change in input costs.
(C) When there is a change in the number of suppliers.
(D) When there is a change in the price of a good.
Ans: (D) When there is a change in the price of a good.
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
In the Keynesian liquidity preference framework, an increase in the interest rate causes the demand curve for money to ________, everything else held constant
A) shift right B) shift left C) stay where it is D) invert
A firm is producing a joint product, Product A and Product B, with variable proportions. At its current production levels, the marginal benefit of producing Product A is $10 and the marginal cost is $8 and the marginal benefit of producing Product B is $2 and the marginal cost is $6. To maximize profits, the managers of the firm should produce ________ of Product A and ________ of Product B.
A) more; less B) less; less C) less; more D) more; m
The amount of unemployment that arises because workers are temporarily between jobs or new entrants to the labor force is known as
a. structural unemployment. b. cyclical unemployment. c. frictional unemployment. d. induced unemployment.