The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B
B. recessionary; C
C. recessionary; A
D. expansionary; A
Answer: C
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Merely demonstrating that wages are lower for blacks and females does not in itself prove wage discrimination
a. True b. False Indicate whether the statement is true or false
Daniel goes on vacation for four weeks. When he returns the company puts him on layoff for four weeks during which he waits to be recalled. In which weeks is Daniel counted as unemployed, if any?
a. neither the first four or second four weeks b. the first four weeks but not the second four weeks c. the second four weeks but not the first four weeks d. both the first four weeks and the second four weeks
A professionally managed portfolio of assets intended to provide income to retirees is called:
A. investing by proxy. B. a stock. C. a mutual fund. D. a derivative.
For a cartel to work, demand for the cartel's product must be
A. inelastic. B. unit elastic. C. perfectly elastic. D. elastic.