The long-run aggregate supply curve assumes that
A) the unemployment rate is more than 9 percent.
B) there is no government purchasing of goods and services.
C) only laborers are fully employed.
D) all factors of production are fully employed.
D
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
In the figure above, imposing a tax on the sellers of the product results in a division in which
A) all of the tax is paid by the buyers. B) all of the tax is paid by the sellers. C) the buyers and sellers pay the same amount. D) neither the buyers nor the sellers pay the tax.
There seems to be some basis for concluding that genetic differences in intelligence exist between blacks and whites
Indicate whether the statement is true or false
Assume that foreign capital flows from a nation increase due to political uncertainly and increased risk. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the GDP Price Index and net nonreserve international borrowing/lending balance in the context of the Three-Sector-Model? a. The GDP Price Index falls and net nonreserve
international borrowing/lending balance becomes more negative (or less positive). b. The GDP Price Index rises and net nonreserve international borrowing/lending balance becomes more negative (or less positive). c. The GDP Price Index falls and net nonreserve international borrowing/lending balance becomes more positive (or less negative). d. The GDP Price Index and net nonreserve international borrowing/lending balance remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.