Uncertainty about the future is likely to
A. decrease current spending.
B. increase current spending.
C. have no impact on current spending.
D. either increase or decrease current spending.
Answer: A
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Refer to Table 8-28. Based on the table above, what is national income for this economy?
A) $1,950 billion B) $2,250 billion C) $2,950 billion D) $3,550 billion
Which of the following is not correct?
a. Market power can cause markets to be inefficient. b. When the decisions of buyers and sellers affect nonparticipants, markets may be inefficient. c. The tools of welfare economics cannot help economists when markets are inefficient. d. Externalities can cause markets to be inefficient.
Contractions are characterized by
A. an upward movement toward a peak in economic activity. B. a long period in which no cycles are observed in economic activity. C. increases in the rate of growth of economic activity. D. a downward movement toward a trough in economic activity.