Refer to the information provided in Figure 16.6 below to answer the question(s) that follow. 
Figure 16.6Refer to Figure 16.6. In the top portion of the figure are the demand curves of two people in this society for a public good. Which of the panels represents the market demand curve for the public good?
A. Panel A
B. Panel B
C. Panel C
D. Panel D
Answer: A
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According to the Phillips curve, unemployment and inflation are negatively related in
a. the short run and in the long run. b. the short run, but not in the long run. c. the long run, but not in the short run. d. neither the long run nor the short run.
What is the total demand for goods and services in an entire economy called?
A. supply and demand B. aggregate demand C. consumer demand D. GDP demand
) Are wages more flexible upward or downward? Explain what effect this has during a time of expansion and a time of recession.
What will be an ideal response?
Refer to the information provided in Figure 34.1 below to answer the question(s) that follow.
Figure 34.1Refer to Figure 34.1. The ________ in this economy is 0.6.
A. MPS B. MPC C. MPM D. open economy multiplier