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
Answer: B
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In an attempt to limit the supply of illegal liquor, the Russian government has restricted sugar availability (sugar is used to increase alcohol content). Russians also like to sweeten their tea with jam, another product made using sugar. Which graph in Figure 4-11 depicts the impact of sugar rationing on the Russian tea market?
A. 1 B. 2 C. 3 D. 4
Which of the following statements is correct?
A) An increase in people's expected future income shifts the aggregate demand curve leftward. B) A tax increase shifts the aggregate demand curve leftward. C) An increase in potential GDP shifts the aggregate demand curve rightward. D) An increase in exports shifts the aggregate demand curve leftward. E) The higher the price level, the larger is the quantity of real GDP demanded.
What will be the principal and most immediate effect on the supply or demand of raw cotton grown in the United States if a low-cost process for making cotton cloth wrinkle-free is developed?
A) Decrease in demand B) Decrease in supply C) Increase in demand D) Increase in supply
The minimum-cost output is the quantity corresponding to the minimum point of the:
a. marginal cost curve. b. marginal product curve. c. average variable cost curve. d. average total cost curve.