Which of the following Latin American countries had the strongest growth rate between 1960 and 2011?
A) Argentina
B) Chile
C) Peru
D) Venezuela
B
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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
Suppose there is an increase in the money supply, but that people's demand for money balances increases by a greater amount at the same time. The net effect would be
A) lower interest rates, greater real GDP, and a higher price level as aggregate demand increases because of the indirect effect of the increase in the money supply. B) no change in aggregate demand or aggregate supply. C) a lower price level in the long run. D) an increase in aggregate demand due to the increase in the money supply, but a decrease in aggregate supply due to the increase in the demand for money.
If traders in a market have rational expectations, then
A) the price of an asset equals its fundamental value. B) prices of riskier assets are higher than prices of less risky assets. C) past prices of assets do not affect market participants' expectations of future asset prices. D) they make use of less information than they would if they had adaptive expectations.
If the income effect of a change in the wage dominates the substitution effect, then workers will want to work more when the wage increases.
Answer the following statement true (T) or false (F)