Renewable resources are those for which
a. additional units can be purchased in the market
b. additional units can be purchased in the market or provided by government
c. worn-out units can be repaired for further use
d. periodic use can be continued indefinitely
e. additional sources are constantly being discovered
D
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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 above figure, the curve has a slope that is ________
A) positive and becoming larger in magnitude B) positive and becoming smaller in magnitude C) negative and becoming larger in magnitude D) negative and becoming smaller in magnitude
The managerial technique of markup pricing is consistent with the economic theory of profit maximization when the markup is positively related to the price elasticity of demand
Indicate whether the statement is true or false
If the quantity demanded of a good is 100 units and the quantity supplied is 50 units, then the equilibrium quantity will be larger than 100 units
Indicate whether the statement is true or false