Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. After firms can respond to the payroll tax, there will be an
A. equilibrium in the labor market.
B. excess demand for labor of 100 units.
C. excess supply of labor or 100 units.
D. excess supply of labor of 150 units.
Answer: A
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Monetarists have received this label because they emphasize the role of the
A. money supply in determining aggregate supply. B. money supply in determining nominal GDP. C. Fed in making monetary policy. D. money supply in determining interest rates and investment.
Long-run macroeconomic equilibrium occurs when aggregate demand ________ short-run aggregate supply and they ________ the long-run supply curve
A) is greater than; intersect at a point to the left of B) equals; intersect at a point on C) equals; intersect at a point to the right of D) is less than; intersect at a point to the right of
A(n) ________ variable is calculated from within the model. A(n) ________ variable can never be taken as given
A) endogenous; endogenous B) exogenous; endogenous C) endogenous; exogenous D) exogenous; exogenous E) none of the above
Which of the following would best be a brief definition of present value?
A. Assets minus liabilities incurred to acquire the assets B. Benefits of an minus its costs C. The sum of all the past values of an asset D. The current value of the expected future returns on an asset