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
Answer: D
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The data in the table above are the U.S. balance of payments. The sum of the current account plus capital and financial account plus official settlements account is equal to
A) $0. B) -$335 billion. C) $140 billion. D) -$60 billion.
If the demand curve is unit elastic, this implies that:
a. consumers do not react to a change in product price. b. the good can only be purchased in units of 1. c. this good has no good substitutes. d. the good is a basic food staple. e. the percentage change in the quantity demanded = the percentage change in product price.
Government has the power to reduce the _____ associated with air pollution by automobiles because it can force changes in car design, can impose taxes on drivers, and has the power to punish those who fail to comply
a. private cost b. transaction cost c. opportunity cost d. positive externality
During World War II,
a. government purchases of goods and services increased fivefold. b. the economy's production increased about 25 percent. c. unemployment fell to about 5%. d. All of the above are correct.