Suppose that television show A is much more popular than television show B. The equilibrium price for a ticket to view the taping of show A is $40 and the equilibrium price for a ticket to view the taping of show B is -$30. If free tickets are offered for the taping of both shows, it is likely that
A) there will be a shortage of tickets for show A and a surplus of tickets for show B.
B) there will be a surplus of tickets for show A and a shortage of tickets for show B.
C) there will be a surplus of tickets for both shows.
D) there will be a shortage of tickets for both shows.
A
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Every point on the long-run average cost curve is
A. on a short-run marginal cost curve. B. on a short-run average variable cost curve. C. on a short-run average total cost curve. D. also a minimum point on a short-run average cost curve.
When market price is above equilibrium price
A. a shortage is generated. B. market price will rise. C. quantity supplied is greater than quantity demanded. D. None of these choices are correct.
Using Figure 48.1, modeling the attacks of September 11, 2001, you would show the aggregate supply shock by using 
Figure 48.1
A. Panel 1 only with a shift from ADA to ADB. B. Panel 2 only with a shift from ASB to ASA. C. Panel 1 only with a shift from ADB to ADA. D. Panel 1 to model the aggregate demand shock (ADB to ADA) and Panel 2 to model the aggregate supply shock (ASB to ASA).
Which of the following is TRUE of M2?
A) It is larger than M1. B) It excludes savings deposits. C) It does not include highly liquid components of the money supply. D) It is less than M1.