Suppose the number of buyers in a market increases and a technological advancement occurs also. What would we expect to happen in the market?
a. Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous.
b. Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous.
c. Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.
d. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
Ans: d. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
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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
The national debt is
a. the difference between a nation's exports and imports of goods and services. b. the sum of the personal debt of all citizens in the United States. c. the cumulative effect of all past budget deficits and surpluses of the federal government. d. equal to the current size of the budget deficit.
Table 11-1 Y = C + I + G C = 500 + 0.8(Y?T) I = 300 G = 700 T = 0.25Y Refer to Table 11-1. What is the equilibrium level of income in this model?
A. 5,000 B. 4,500 C. 3,750 D. 3,500 E. 3,250
Which one of these groups has the highest poverty rate?
A. The elderly B. Children C. White males over 50 D. Working class women