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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Persistent deficit after 1980 was almost entirely due to
A) higher share of expenditures in GDP. B) lower tax revenue. C) lower share of expenditures in GDP. D) Higher tax revenue.
If marginal utility becomes negative for the first time, which of the following is true? a. Total utility is growing steeply
b. Total utility begins to decline. c. A rational consumer would never knowingly pay a positive price for these units of the good or service generating negative marginal utility. d. Total utility equals marginal utility. e. Both b. and c. above are correct.
A continuing resolution is: a. an agreement that requires Congress to balance the budget on an annual basis
b. an agreement that allows Congress to have too much control over the budgetary process. c. an agreement that allows agencies to spend at the rate of the previous year's budget. d. a decision made by congressional committee about the federal spending and revenue levels for five years. e. a guaranteed benefit for those who qualify for government transfer programs.
To reconcile net national product and national income,
a. national income is calculated first, and capital depreciation is subtracted from it to get net national product b. national income is calculated first, and indirect business taxes are subtracted from it to get net national product c. net national product is calculated first, and indirect business taxes are subtracted from it to get national income d. net national product is calculated first, and compensation of employees is added to it to get national income e. gross national product is calculated first, and capital depreciation plus nonfactor charges are subtracted to get national income