The supply curve
A) represents the quantity supplied at any given price.
B) represents the quantity actually sold at any given price.
C) is the opposite of the demand curve.
D) always intersects the demand curve.
A
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
When a student finishes college and begins looking for work
A) cyclical unemployment increases. B) structural unemployment increases. C) frictional unemployment increases. D) frictional and cyclical unemployment increase.
Which of the following correctly describes fractional reserve banking?
A. The federal government only insures a fraction of the deposits at most banks. B. Banks keep a fraction of their loans with other banks to maintain the quality of their loan portfolio. C. Banks can loan out all but a small fraction of its own money, but must hold all money deposited at the bank on reserve in bank vaults. D. Banks can loan out all but a fraction of its own money, but must hold all money deposited at the bank on reserve in bank vaults.
Consider the following short-run production function: q = 5L2 - 1/3 L3. At what level of L do diminishing marginal returns begin? At what level of L do diminishing returns begin?
What will be an ideal response?