Which economic concept is the closest to the saying "There's no free lunch"?
a. Specialization
b. Unlimited wants
c. Underutilization of resources
d. Opportunity costs
e. Overutilization of resources
d
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As of 2008, approximately what fraction of U.S. GDP does government purchases now represent?
a. One-half b. Three-quarters c. None; it is not included in GDP d. Two-thirds e. One-fifth
Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
Suppose that one country has a GDP that is ten percent of its richer neighbor, but the poorer country is growing at a rate of eight percent per year while the richer country is growing at a rate of two percent per year. Which country will be richer in 60 years?
What will be an ideal response?
Fiscal policy involves discretionary changes in
A. the rate of growth of the money supply. B. interest rates. C. lump-sum taxes. D. exchange rates.