Short-run macroeconomic equilibrium occurs at the point of intersection of the short-run aggregate supply curve and the short-run aggregate demand curve
a. True
b. False
Indicate whether the statement is true or false
True
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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; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
If a perfectly competitive apple farm's marginal revenue exceeds the marginal cost of the last bushel of apples sold, what should the farm do to maximize its profit?
A) increase output B) decrease output C) lower its price to sell more D) determine what the total revenue and total cost of production are
Prisoner's dilemma games imply that cooperative behavior between two people or two firms always breaks down. But reality teaches us that people and firms often cooperate successfully to achieve their goals
Why do the results from prisoner's dilemma games fail to predict real-world results? A) Prisoner's dilemma games do not permit people or firms from reneging on agreements, which often occurs in real-word situations. B) Most real-world situations involve more than two people or firms; the prisoner's dilemma is only applicable to situations that involve two parties. C) The prisoner's dilemma does not apply to most business situations that are repeated over and over. D) Prisoner's dilemma games predict the behavior of people and firms that engage in illegal activity; most people and firms do not resort to illegal activity.
Which of the following is included in both M1 and M2?
a. currency b. demand deposits c. other checkable deposits d. All of the above are correct.