The origin of a graph is the intersection of the two axes, where the value of both variables is zero.
Answer the following statement true (T) or false (F)
True
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Structural unemployment results in a ________ of labor which should theoretically be reduced by a(n) ________ in the wage rate
A) surplus; decrease B) surplus; increase C) shortage; decrease D) shortage; increase
An economist says: "The supply curve has two interpretations." What does the economist mean?
What will be an ideal response?
An increase in the interest rate
A) lowers the present value of future revenue. B) increases the present value of future revenue. C) has no effect on the present value of future revenue. D) shifts the demand curve for capital leftward.