Which of the following founders of the United States used the infant-industry argument to support trade restrictions?
A) Thomas Jefferson
B) Alexander Hamilton
C) James Madison
D) John Jay
B
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When price is the rationing criterion, individuals have a strong incentive to
a. ignore the wishes of others when making decisions about how to use their resources. b. provide services to others in exchange for income. c. avoid exchanges because in every exchange there will be one person who gains and another who loses. d. substitute promises for the consistent delivery of a quality product.
An increase in the price of a good would
a. decrease the demand for the good. b. decrease the quantity demanded for the good. c. increase the demand for the good. d. decrease the quantity supplied of the good.
If there is an improvement in technology that affects only Aggregate Supply and a nation's wealth falls due to sagging stock market, then:
a. Aggregate demand rises, and aggregate supply falls. b. Aggregate demand rises, but aggregate supply does not change. c. Aggregate demand falls, and aggregate supply rises. d. Aggregate demand and aggregate supply rise. e. Aggregate demand and aggregate supply fall.
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