Which of the following statements accurately contrasts individual behavior and group behavior?
a. Group behavior is more predictable than individual behavior.
b. Group behavior is more dishonest than individual behavior.
c. Group behavior is more varied than individual behavior.
d. Group behavior is more objective than individual behavior.
a. Group behavior is more predictable than individual behavior.
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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
Protecting infant industries from foreign competition may make sense, but only until the industry matures
a. True b. False Indicate whether the statement is true or false
Suppose the economy is in a recession and the Central bank lowers the monetary policy rate. Then
A. Real GDP and the price level will both decrease. B. Real GDP will increase and the price level will decrease. C. Real GDP will decrease and the price level will increase. D. Real GDP and the price level will both increase.
Accounting profits are total revenues minus
A) all relevant opportunity costs. B) explicit and implicit costs. C) explicit costs and all other relevant opportunity costs. D) explicit costs.