The market value of all currently produced final goods and services within a county in a given period of time by domestic and foreign supplied resources is called:
A) GNP.
B) GDP.
C) NNP.
D) none of the above.
B
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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
Taxpayers were served poorly by thrift regulators in the 1980s. This poor performance cannot be explained by
A) regulators' desire to escape blame for poor performance, leading to a perverse strategy of "bureaucratic gambling." B) regulators' incentives to accede to pressures imposed by politicians, who sought to keep regulators from imposing tough regulations on institutions that were major campaign contributors. C) Congress's dogged determination to protect taxpayers from the unsound banking practices of managers at many of the nation's savings and loans. D) politicians strong incentives to act in their own interests rather than the interests of the taxpayers.
[Appendix; Advanced Material] If airlines found that the number of no-shows starts to increase, then its policy for optimal overbooking would tend to:
a. make them reduce the amount of overbooking. b. cause them to increase the amount of overbooking. c. let them keep the same amount of overbooking.
The Black Death in fourteenth-century Europe resulted in
a. a lower marginal product of labor of surviving workers. b. a higher marginal product of land. c. economic hardship for surviving peasants. d. economic hardship for surviving landowners.