After the major income tax decrease for the high income earners in 1981, the federal deficit _______ by 1990.
A. had not changed
B. tripled
C. cut by half
D. doubled
B. tripled
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Use the following diagram to answer the next question.
Which of the following would have caused a move from point 1 to point 2 in the diagram above?
A. An increase in government spending. B. An increase in worker productivity. C. An increase in taxes. D. An increase in imports.
Game theory is necessary to understand which kinds of markets? (i) perfectly competitive (ii) monopolistically competitive (iii) oligopoly (iv) duopoly (v) monopoly
a. (i) and (ii) only b. (iii), (iv), and (v) only c. (iii) and (iv) only d. (i), (ii), (iii), (iv), and (v)
Exhibit 12-7 Negative income tax
As shown in Exhibit 12-7, a family of four with no earned income receives ____ from the government.
A. zero payment. B. the break-even income of $40,000. C. a $20,000 payment. D. a $20,000 tax deferment.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C