Another label for the market for loaned funds is the:
A) spot market.
B) credit market.
C) capital market.
D) exchange market.
Answer: B) credit market.
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
According to the classical model, the income generated by production is
A) always insufficient to purchase all the goods and services produced. B) enough to purchase all the goods and services produced. C) fully spent on savings. D) enough to meet the needs of everyone in society.
Along the aggregate production function, as the quantity of labor rises, real GDP
A) rises. B) falls. C) stays the same. D) may fall, rise, or stay the same.
A production quota set below the equilibrium quantity creates
A) a decrease in supply B) a decrease in marginal cost C) a rise in price D) inefficient underproduction E) all of the above