Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential
B. expansionary; lower; potential
C. expansionary; higher; potential
D. recessionary; lower; lower
Answer: A
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Unlike the Federal Reserve Bank of today, the First and Second Banks
(a) could create corporations by special franchise. (b) were generally supported by the rest of the banking community. (c) were direct competitors with private business. (d) provided a federal safety fund in times of well banking crisis.
_________ is a term referring to local area nesting, finding places outside home and work to spend time
a. Sustainability b. Hatching c. Re-starting d. Retreat
If the international value of the dollar rises, the
a. aggregate demand curve will shift inward. b. aggregate supply curve will shift outward. c. U.S. price level will fall. d. All of the above are correct.
For a given seller, the figure below shows the relationship between the number of units produced and the opportunity cost of producing an additional unit of output. As the market price of this good increases, the quantity produced by this seller will ________. 
A. increase B. stay the same C. stay the same until the price rises above $6 per unit, and then it will increase D. decrease