The demand curve shows the relationship between
A. income and quantity demanded.
B. consumer tastes and quantity demanded.
C. price and production costs.
D. price and quantity demanded.
Answer: D
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
A curve is plotted with y measured on the vertical axis and x measured on the horizontal axis. The slope of the curve equals
A) y divided by x. B) the change in y divided by x. C) the change in y divided by the change in x. D) y divided by the change in x.
Why do cartels often break down?
What will be an ideal response?
One reason the oversimplified multiplier is incorrect is that inflation
A. increases the multiplier by increasing investment spending. B. increases the multiplier by increasing consumer spending. C. decreases the multiplier by increasing net exports. D. decreases the multiplier by decreasing consumer spending.