When quantity demanded is greater than quantity supplied, market price is ________ the equilibrium price.
Fill in the blank(s) with the appropriate word(s).
below
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
Used car buyers will believe that a car is of good quality when the seller signals the car's high quality by offering a warranty when
A) a warranty on a lemon is costly to the seller. B) warranties are offered on all cars. C) warranties are only offered on lemons. D) a warranty on a good car is a false signal.
Unemployment and inflation are important determinants of short-run material welfare, whereas productivity growth is an important determinant of long-run material well-being
a. True b. False Indicate whether the statement is true or false
The slope of the consumption function is the
A. APC. B. MPS. C. MPC. D. APS.