If (T? G) = (X? IM), then (S? I)
A. is greater than zero.
B. is zero.
C. is less than zero.
D. cannot be calculated.
Answer: B
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
The iPod is a product without any significant network externalities
Indicate whether the statement is true or false
Jeans in general have fewer close substitutes than a specific brand of jeans. Therefore, the demand for jeans in general will be ________ than the demand for a specific brand of jeans.
A. more elastic B. more unit elastic C. less elastic D. less inelastic
Inflationary recessions
A. cannot possibly occur. B. have not occurred over the last 50 years. C. are easily dealt with by conventional monetary and fiscal policies. D. have occurred during 1970's and 1980's.