At equilibrium
A. quantity supplied is equal to quantity demanded.
B. quantity demanded is greater than quantity supplied.
C. quantity supplied is greater than quantity demanded.
A. quantity supplied is equal to quantity demanded.
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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
(Appendix) In the production function Q = 10L1/2K1/2, is diminishing returns a characteristic of this production function?
What will be an ideal response?
Money is the standard of exchange by which any type of goods can be purchased.
Answer the following statement true (T) or false (F)
Inflation represents
A) an increase in output. B) an increase in the aggregate price level. C) an increase in the unemployment rate. D) a recession.