A(n) _________ is defined as a significant decline in economic activity spread across the economy, lasting more than a few months.
A. economic deficit
B. depression
C. regressive economy
D. recession
Answer: D
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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
The difference between gross investment and net investment is
A) the capital stock. B) depreciation. C) the real interest rate. D) equal to saving.
Pretty Polly produces dresses for little girls. If Pretty Polly's advertising campaign becomes more effective, the demand for Pretty Polly's dresses will ________ and Pretty Polly's marginal benefit curve from advertising shifts to the ________.
A) decrease; left B) decrease; right C) increase; left D) increase; right
Intense market competition is ________ for consumers, since it_______
a. Bad; erodes producer surplus b. Bad, increases variety in the market c. Good, increases the price level in the market d. Good; decreases the price level in the market