Aggregate demand shifts right when the Federal Reserve
a. raises personal income taxes.
b. increases the money supply.
c. institutes an investment tax credit.
d. All of the above are correct.
b
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Refer to the figure below. 
If Row Resorts keeps its rates high, then Column Cruises would receive the highest payoff if it:
A. agreed with Row Resorts to reduce their rates at exactly the same time. B. chose either strategy because it will have the same payoff in either case. C. offered reduced rates. D. kept its rates high.
Use the following figure to answer the next question.
If the firm is producing at Q1, the area BADE represents the
A. average variable cost. B. total variable cost. C. total fixed cost. D. total cost.
A negative balance of trade is when ___________.
Fill in the blank(s) with the appropriate word(s).
A gold sale by the U.S. Treasury
A) reduces bank reserves. B) increases bank reserves. C) increases Federal Reserve assets. D) leaves bank reserves unaffected.