Technological improvements will:
A) leave the production possibilities curve unchanged.
B) shift the production possibilities curve inward.
C) shift the production possibilities curve to outward.
D) necessarily lead to increased unemployment.
Ans: C) shift the production possibilities curve to outward.
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In order to raise the rate of economic growth the United States needs to
A. Spend more on consumer goods. B. Use older, tried and true technology. C. Have its consumers save less. D. Have its business firms invest more.
The following graph depicts demand. 
The price elasticity of demand at point A is:
A. 2/5. B. 8/5. C. 5/8. D. 5/2.
Starting from long-run equilibrium, the long-run impact of an increase in autonomous investment, compared to the original equilibrium, is:
A. higher inflation and higher output. B. lower inflation and lower output. C. lower inflation and the same output. D. higher inflation and the same output.
In the circular flow model of the market system, households
A. buy products and sell resources. B. sell products and resources. C. sell products and buy resources. D. buy products and resources.