Market equilibrium maximizes the sum of:
A. total cost and total benefit.
B. excess demand and excess supply.
C. consumer surplus and producer surplus.
D. marginal cost and marginal benefit.
Answer: C
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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
To avoid multiple counting in national income accounts, ________.
A. primary, intermediate, and final goods and services should be counted B. both final and intermediate goods and services should be counted C. only final goods and services should be counted D. intermediate goods and services should be counted
The following graph shows the supply of movie downloads. What is the market quantity that would be supplied at a price of $2.00?
A. 3 movies per week B. 7 movies per week C. 4 movies per week D. 2 movies per week
If the prices of computer tablets rise, we would expect the number of tablet covers purchased to
A) increase. B) decrease. C) be equal to ten. D) be equal to one.