Which of the following implies a decline in labor productivity in an economy?
a. A high rate of growth in capital formation
b. An improvement in input quality
c. A decrease in the production of goods and services
d. An increase in the budget surplus in the economy
e. A decrease in the prices of goods and services
c
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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
An increase in price is likely to affect demand in what way?
A. Demand will increase. B. Demand will decrease. C. Demand will not change. D. This would only affect supply and not demand.
The most important role of the World Trade Organization is
(a) to promote market oriented economic policies. (b) to settle trade disputes. (c) to provide development assistance. (d) to help countries choose the appropriate level of a tariff or quota.
Deciding to engage in tax evasion requires consideration of all of the following, except the
A. probability of being caught. B. probability of conviction if caught. C. probability of winning extra money. D. costs of defending oneself.