Full employment is defined by all economists as precisely 5 percent of the labor force
a. True
b. False
Indicate whether the statement is true or false
False
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
Beginning from a long run equilibrium in an increasing cost industry, if there is a substantial, permanent fall in demand for industry output:
a. firms will leave the industry, the quantity produced will fall, and prices will end up lower than their initial long run equilibrium level. b. firms will leave the industry, the quantity produced will fall, and prices will end up higher than their initial long run equilibrium level. c. firms will leave the industry, the quantity produced will fall, and prices will end up at the same level as their initial long run equilibrium level. d. firms will enter the industry, the quantity produced will rise, and prices will end up lower than their initial long run equilibrium level.
Banks considered "too big to fail" were:
A. bailed out through fiscal policy. B. bailed out through consumer spending. C. allowed to go bankrupt. D. helped by fiscal policy, but eventually went bankrupt.
Goods and services given to the poor such as food stamps, housing vouchers, and medical services are called