International economic crises are relatively rare events
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
The national income accounting system measures economic activity based on the concept of _____
a. absolute advantage of different industries in an economy b. the circular flow of precious metal and money through the different sectors of an economy c. comparative advantage of different industries in an economy d. the circular flow of output and income through the different sectors of an economy e. the circular flow of labor and other resources through the different sectors of an economy
The term institutions is commonly used to refer to:
A. development agencies. B. international groups. C. government bodies. D. All of these statements are true.
If the official poverty line for a family of four is $12,000, then the Department of Agriculture's minimum food bundle costs a family of four ________ per year.
A. $1,000 B. $3,000 C. $4,000 D. $12,000