Refer to the information provided in Table 22.2 below to answer the question(s) that follow. Table 22.2 PointAggregate Income (Y)Aggregate Consumption (C) A 10 14 B 20 23 C 30 25 D 40 26 E 50 34 F 60 39The data in the table was used to estimate the following consumption function: C = 12 + 0.4YRefer to Table 22.2. The error for point A is equal to
A. -3.
B. -2.
C. +2.
D. +3.
Answer: C
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The following graph depicts demand. 
The price elasticity of demand at point D is:
A. 2/5. B. 2. C. 1/2. D. 5/2.
In the above figure, the short-run aggregate supply curve is SAS and the aggregate demand curve is AD. An inflationary gap exists
A) if the long-run aggregate supply curve is LAS1. B) if the long-run aggregate supply curve is LAS2. C) if the long-run aggregate supply curve is LAS3. D) All of the above answers are correct.
An open economy produces most of the goods and services that it needs, with few imports and exports
a. True b. False Indicate whether the statement is true or false
Equilibrium quantity must increase when demand
a. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply increase. b. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease. c. decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply increase. d. decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease.