Given the possible strategies listed below, design the best plan for increasing the country's future standard of living.
i. build new factories
ii. print money
iii. develop new production technology
iv. sacrifice consumer goods for capital formation
iv. tighten immigration policy
v. produce only enough capital goods to replenish depreciation.
A. i, ii, and iii only
B. i, iii, and iv only
C. ii, iv, and v only
D. i, ii, iii, iv, and v
Answer: B
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Which of the following would cause a rightward shift of the supply curve for cell-phone services?
A. an increase in the price of cell-phone services B. a decrease in a subsidy given to cell-phone service providers C. a decrease in the wages of workers employed by cell-phone companies D. an increase in the taxes paid by cell-phone service providers
When diminishing marginal returns set in, total product will
A) increase at an increasing speed. B) increase at a decreasing speed. C) decrease at an increasing speed. D) decrease at a decreasing speed.
If the average level of nominal income in a nation is $44,000 and the Consumer Price Index is 175, the average real income would be about
A. $77,000. B. $25,143. C. $18,857. D. $44,000.